FEBRUARY 2023

ECONOMICS & ENTERPRISE
Ark Angel Launches Second EXCLUSIVE YEAR-END REPORT Investment FOR ARK ANGEL FUND INVESTORS Fund 2022
BY CAL ABBO
In 2020, the Chaldean American
Chamber of Commerce started the
Ark Angel Fund as a way to bring
the startup market to Chaldean investors.
In addition, it supports emerging
businesses that can make a difference
in the region.
The first iteration of the Ark Angel
Fund succeeded in raising a total of
$1 million from 32 investors. All of the
funds have since invested in seven different
startup companies across several
different sectors. While the Fund
hears all kinds of pitches, it tends to
focus most of its attention on innovative
companies in the technology
sphere.
The fund is overseen by a small
team including Fund Manager Martin
Manna and Fund Administrator Tom
Haji. Three additional fund advisors
help in decision-making.
The first fund spent a lot of time on
its due diligence and careful consideration
of its investments. It screened
over 400 companies; of them, it considered
investing in 30; finally, it invested
an amount between $100-200
thousand in seven of those.
HOLO Footwear
HOLO’s journey began in 2020, when
co-founders Rommel Vega and Yuri
Rodriguez wanted to shake up the
footwear industry with two goals in
mind: sustainability and affordability.
They found that eco-friendly footwear
is difficult to find, and if you can, the
expensive prices are a barrier to entry
for those who love the outdoors.
Since it started, HOLO has found
reliable manufacturers and cheapbut-quality
recycled materials. It has
designed dozens of shoes and colorways,
all featured on its new directto-consumer
website. According to
HOLO, all of its shoes are made from
70-100% recycled material. Its real
claim to fame is its pricing: its most
basic model starts as low as $45.
Visit holofootwearinc.com.
Fixmycar
Fixmycar is a local startup that began
in Ann Arbor, Michigan. Its mission is
Annual Investor Report
Detroit Ranked #1 Emerging
Start-up Ecosystem
– Startup Genome’s 2022 Global Startup Ecosystem Report
AAF I
ACCOMPLISHMENTS
$1M raised
Thirty two
investors
Considered
30 pitches
out of 400+
companies
screened
Invested in 7
companies
AAF II
PROJECTIONS
60+ investors
Grow total Fund II
to $3M-$5M
$125K
Ark Angel Fund I
INVESTMENT PORTFOLIO
$150K
$125K
“to make car ownership simple.” On ders. VADE users can simply drop their
a base Such level, early-stage it connects mechanics support powder fosters pack innovation, into a sealed bottle translating and into significant
looking economic for work with growth customers and who long-term shake it up benefits for a simple for solution communities.
to a
need car maintenance but can’t spend protein shake. This company is a great
so much time at a shop. Its mechanics example of how one small innovation
will travel to wherever your vehicle is can have a large impact.
to service Closed it. at 2x Working on 58 deals VADE in got 6 deals its first in the big break Expanding when to On track for
from its initial $40M private the pipeline at pipeline at new markets a near-term
On investment a deeper level, label Fixmycar deal; addresses
concerns of transparency Awarded Inc. and by Morgan Tank” and secured Puerto Rico an investment Worldfrom
$150M
$2.2M; it Backed appeared $10M, on the including TV show across “Shark the valuation of
convenience on all sides 500 of Master the car service
industry. It allows mechanics and baseball player Alex Rodriguez.
Stanley investor Mark and Cuban Hawaii and legendary
customers to use its service on their Visit vade-nutrition.com.
own time. Visit fixmycar.io.
Brand XR
VADE Nutrition
This up-and-coming digital technology
provides a platform for users to
VADE’s vision is all about easy access
to high-quality nutrition. “We believe create and publish Augmented Reality
that pushing the technological boundaries
of nutrition is paramount to er. Its user-friendly tools allow anyone
content without any coding whatsoev-
building a happier, healthier world,” with basic computer skills to create
its website reads.
something in Augmented Reality.
VADE has succeeded in creating a Augmented Reality is a relatively
water-dissolvable film which houses new technology that, when paired
virtually any kind of powdered supplement.
Their products range from or Virtual Reality goggles, adds some-
with a piece of technology like a phone
pre-workout to whey isolate protein thing new to your environment. The
powder. Its usefulness demonstrates most basic example of Augmented Reality
is a Snapchat or Instagram filter.
itself by eliminating the mess of traditional
protein and supplement pow-
While this technology is becoming
popular in the entertainment and
social media spheres, it has lots more
$100K
$125K
$146K
$200K
AAF II
SURVEY HIGHLIGHTS
Focus on revenueproducing
firms
Innovation, tech
& retail sectors
Raise
investor
minimum
to $50K
Raise
maximum
fund cap
to $5M
Almost 70%
of respondents
are potential
investors
Angel investing is often the primary source of funding for many start-ups.
uses to explore, and Brand XR is positioned
to become the go-to system
for this type of content creation. It has
many real-world uses in large-scale
projects that Brand Launching XR is exploring.
Direct-To-
In one instance, Consumer Brand XR partnered
with Wayne and State expanding University to
create a driving simulator all 146 in order to
REI locations.
study the effects of intoxication on
driving ability in a safe environment.
Brand XR has also partnered with the
Kennedy Space Center to create realistic
simulations of the International
Space Station. Visit brandxr.io.
AptumBuild Solutions
This company made their first prototype
in early 2020 and has taken off
since then. Why are simple structures
so difficult to build, requiring various
tools, knowledge, and specific materials?
AptumBuild set out to shift the
paradigm.
The new venture specializes in
ease-of-use mini-structures. It gained
some traction and was able to test
some of its models in the restaurant
22 CHALDEAN NEWS FEBRUARY 2023