Long-time San Diego entrepreneurs and investors Al Bsharah and Neal Bloom have launched an angel investing syndicate to support startup founders and their companies called Interlock Capital.
Over 120 angel investors have collaborated to identify, evaluate, fund, and provide ongoing support for eight startups across the United States in the last 10 months.
Over $1.25 million has been raised, with fast-growing San Diego startups Mercato, Crafter, Kast and Launch Factory among the recipients. Investments have also been made in startups in San Francisco, Santa Barbara, Texas and Kentucky.
Interlock has created a community-driven platform for investors of all backgrounds and budget levels to contribute to startup companies. This allows new investors to build a diversified portfolio at their own pace.
Unlike a typical venture fund, where investors write one check but don’t have a say in what the fund managers invest in, Interlock lets investors make their own choices.
“I’ve wanted to be an angel investor for a number of years, but haven’t been able to write $50,000 or $25,000 checks, let alone 10 or more of them to get reasonable diversification,” said Bsharah. “We started Interlock Capital to provide access to great deals at a budget each investor can afford.”
Investments can range from as little as $1,000 to as much as $100,000, creating opportunities for both aspiring angels and seasoned investors.
“While cultivating relationships with fellow founders over the years, I realized a lot of us aspired to back other great founders,” said Bloom, who also serves as chair emeritus of Startup San Diego. “Joining together and having skin in the game in our community allows for a rising tide to lift all boats.”
