Golden Angels Investors LLC, a Brookfield-based group that invests in young, high-potential companies, on Thursday took the unusual step of publicly disclosing its investment performance.
Golden Angels’ internal rate of return, or IRR — a common measure used by such groups — is 16.87%, according to Tim Keane, director.
That means Golden Angels members who put money into all 13 of the investments that have come to fruition for the group since 2003 had an annual return of 16.87%, net of their costs. The numbers were reviewed by independent accountants, Keane said.
The Standard & Poor’s 500 index had an average annual total return of 8.87% during the same time period, according to Morningstar Inc.
“We believe our pooled expertise provides more benefit to us than a fund with one manager and passive investors,” Keane said in an OnRamp blog about the group’s performance.
Golden Angels, the largest angel investing group in the state by membership, has 95 members, Keane said. All of them are qualified investors, which means they have net worth, excluding their primary residence, of $1 million or more, or have had at least $200,000 of annual income for at least two years. Read the full story here.