Angel Street Capital LLC has been formed to provide consulting and investment capital to the digital media industry. And while the company may be new, the people running it are familiar names to RBR-TVBR readers.
The founders of the company include Bob Maccini, a veteran media broker and most recently the CEO of Ando Media LLC; Joseph Gallagher, CEO of Aritaur Communications; and Stephan Sloan, a Director at Media Services Group. Angel Street will provide consulting services to early stage digital media companies and radio groups. In addition, Angel Street will invest capital in promising early stage digital media companies.
Maccini told RBR-TVBR that he and his two partners are investing their own capital, so they are looking to make investments in digital media companies in the $50-500K range, although they can also bring in additional cash from high net worth individuals if needed. They’re looking at both stand-alone ventures and projects being launched in the digital space by existing radio or other media companies.
The principals of the company all began their careers in traditional media and made the early transition to digital. The founders of Angel Street note that they have operated and invested in a number of media and technology ventures – and add that those investments produced “excellent returns for themselves and their partners.”
“Joe, Stephan and I have each spent over 20 years involved in various media ventures, including radio, television, towers, Internet radio and general Internet ventures. We believe we can assist companies in realizing digital media opportunities,” said Maccini.
“We spent the first part of our careers in traditional media and successfully made the transition to operating Internet related businesses. Many of our ventures succeeded due to an analysis of trends and resulting vision of those drivers impacting existing media businesses,” added Gallagher.
Maccini and Gallagher have been pioneers of the Internet radio industry, having founded Net Radio Sales (the largest Internet radio rep firm), which was sold to Katz Media, as well as Ando Media LLC (the leading Internet radio audience measurement and ad insertion company) which was sold to Triton Media.
RBR-TVBR observation: Good to see broadcasters fully engage into today’s ‘New Media’ world. The key for a young start-up money firm is to watch what and where they put their investor’s money.
They have to raise money to lend money and or acquire.
We have seen broadcasters and equity firms make questionable investments. Angle Street Capital’s first investment or better yet their first acquisition will be the most important to establish their commitment and credibility in ‘New Media’.