New Ohio Angel Fund closes inaugural round, bets early on AI and data privacy startups
Ohio’s startup scene just got a fresh infusion of early-stage capital. 71/70 Angels, a new Columbus-based fund, has closed its first round and already placed bets on two tech startups—a signal of growing momentum for seed-stage investment in the Midwest.
Backed by nearly 50 investors and supported by Columbus-based Rev1 Ventures, the fund is designed to fill one of the toughest gaps in Ohio’s startup ecosystem: early capital. By pulling together both seasoned angels and first-time backers, 71/70 Angels is expanding access to funding while energizing a new wave of investors across the region.
The details
Fund I closed: 71/70 Angels’ inaugural fund officially closed this summer, powered by a network of almost 50 investors.
First deals: In its first 90 days, the fund invested in two high-growth startups: Cincinnati-based AI-driven marketing intelligence company Nichefire, and a developer of next-gen data privacy technology (further details not disclosed).
Founder-first ethos: The fund emphasizes a transparent, streamlined process and pairs capital with a hands-on network of operators, funders, and leaders who know how to scale companies.
The bigger picture
Despite a challenging macroeconomic environment, angel investing activity remains strong. According to the Angel Investment Network, 40% of angels plan to invest more in 2025 than last year. Startups backed by angels also show a 58% higher five-year survival rate—an encouraging sign for entrepreneurs in Ohio and beyond.
What they’re saying
"71/70 Angels is built with a founder-first ethos, blending a streamlined process with Midwest grit and values," said Melinda Gloriosa, Managing Director at 71/70 Angels and Rev1 Ventures. "With this first fund closed and our early investments underway, we're taking action—backing startups with capital, along with an active network of operators, funders, and functional leaders who know how to build scalable companies."
What’s next
With Fund I closed and its first deals complete, 71/70 Angels is positioning itself as a new force in the Midwest’s capital landscape—backing seed and early-stage companies with high-growth potential in software and advanced tech.