Miami Angels and New World Angels are combining to form statewide network

Two active South Florida angel networks, New World Angels and Miami Angels, are joining to create a large statewide organization. The move aims to widen access to bigger checks and streamline the fundraising process for founders, while providing “smart money” depth for investors.

The plan has been in the works for several months by two organizations that have long shared deal flow and even some members.

Jared Schwitzke

Jared Schwitzke, Managing Director of Miami Angels, explained that his group was exploring ways to grow and better meet the needs of the ecosystem. New World Angels offered investor expertise in some areas Miami Angels didn’t and had structured its expertise into industry groups in a way that Miami Angels was considering doing on its own.

“We saw this as a natural evolution in the angel network ecosystem here in South Florida,” explained Schwitzke. “Why have two different groups doing the same exact thing … when we could combine forces and provide a better outlet for everyone involved?”

The combined entity will boast a formidable footprint in Florida, bringing together New World Angels’ 100 members and Miami Angels’ 65 members (and possibly some alumni). While Miami Angels has historically focused mostly on Miami, New World has traditionally seen heavy membership weighting in Broward and Palm Beach counties.

Ron Tarro

“We’re going statewide, but it’s better to look at this whole area as one entire ecosystem,” said Ron Tarro, President and Board Member of New World Angels. He noted that Miami Angels, like NWA, has deep roots in this area: “Florida capital prioritizing Florida companies.”

Founded in 2003, New World Angels is one of Florida’s largest and longest-running angel groups. NWA’s members are mainly experienced engineers and operators, and historically, NWA has taken a board seat in 75% of the companies it has invested in and is no stranger to leading rounds, Tarro said. NWA currently has 19 portfolio companies.

In 2024, New World launched its Innovation Fund, a vehicle that provides $50,000 to $100,000 “bridge checks” to promising early-stage founders coming out of top Florida accelerators, said Jessica Miley, NWA’s Managing Director and a former Miami Angels member. The Innovation Fund has made three investments so far.

Jessica Miley

Miami Angels, founded in 2013 as the city’s startup ecosystem was taking root and now with 60 portfolio companies, has built a strong reputation within the Miami startup ecosystem by focusing heavily on early-stage companies emerging from South Florida’s growing tech scene.

Over the years, Miami Angels has funded roughly 100 startups and about a dozen companies have exited, said Schwitzke, who will join NWA as an advisory member. Miami Angels Board Member Juha Mikkola will serve on NWA’s board, he added.

For founders, this merger aims to simplify the path to capital, as entrepreneurs now have a single point of entry to a larger pool of capital.

For investors, the merger offers immediate access to NWA’s established processes and infrastructure, which includes industry verticals in Healthcare, IT, Manufacturing, Consumer Products, Space, and coming soon, Fintech.

Miami Angels recently invested in Miami-based Taiv, an AI-powered in-venue ad network, and Fandiem, a fundraising platform. Along with New World Angels, Miami Angels also backed HinaLea Imaging, which specializes in hyperspectral imaging, and Tampa-based Grifin, an investing platform.

On the New World side, the group’s healthcare related investments include two medical technology companies with University of Miami roots: Aegle Therapeutics and Swift Sync. Another investment is Fuego: A South Florida-based dance shoe company that recently inked a deal with the Miami Heat. “It was never on my dance card to invest in dance shoes,” Tarro quipped. “They’re doing great.”

Mark Kingdon

The merger news comes at a time when South Florida’s tech scene is maturing, with its startups growing and more capital arriving. What’s more, Palantir’s recent announcement that Miami is its new home can help power up the flywheel effect. “A company is started, it grows to success, and then people leave that company and create new startups. That’s why the West Coast is so magical and it’s really terrific to see some of these really large tech companies moving to Miami because that supercharges that flywheel,” said Mark Kingdon, who has chaired Miami Angels’ Board for nearly a decade.

Moving forward, the unified group plans to lean heavily into technology to manage their increased deal flow. Tarro said NWA is already applying AI to their diligence process to handle a five-fold increase the group has seen in incoming pitches. They are also planning a series of events, including one later this month, to integrate the two communities.

“The opportunity is to channel larger checks into the early stage,” Tarro said, while making sure “our thumb is on the scale with Florida money.”

Adds Schwitzke: “The shorter the pathway from idea to capital, the faster that flywheel spins.”

Miami Angels and New World Angels are combining to form statewide network

Tags: