Long-time San Diego entrepreneurs and investors Al Bsharah and Neal Bloom have launched an angel investing syndicate to support startup founders and their companies called Interlock Capital.
Over 120 angel investors (both experienced and new) have come together to find, evaluate, fund, and support eight startup companies across the US in the last 10 months. Since 2020, this group of investors has deployed over $1.25 million to these portfolio companies, including fast-growing San Diego startups like Mercato, Crafter, Kast, and Launch Factory. Interlock Capital has also invested in startups in other California cities such as San Francisco and Santa Barbara, as well as in Texas and Kentucky.
Interlock Capital is unique in that it has created a community-driven investing platform for individuals of all types to invest in startup companies within their own budgets. This allows a more diverse range of investors to build a diversified portfolio for themselves at their own pace. The angel syndicate is unlike a Venture fund where investors write one check but don’t have a say in what the fund managers invest in.
“I’ve wanted to be an angel investor for a number of years, but haven’t been able to write $50,000 or $25,000 checks, let alone 10 or more of them to get reasonable diversification,” said Managing Partner Al Bsharah. “We started Interlock Capital to provide access to great deals at a budget each investor can afford. Our investors (called Venture Partners) have put in anywhere from $1,000 to $100,000 per deal and they get to choose the deals they want to invest in. They are aspiring angels, seasoned investors, subject matter experts, service providers, founders, and come from all walks of life. It’s easy to get involved, learn from peers, and invest in great companies.”
The Interlock team has published a number of useful metrics around their investments, which can be found on the syndicate’s transparency page. This includes the average deal size, time between investments, and even diversity ratios for their portfolio companies and their own Venture Partners. The team is also very transparent about their beliefs, which include access for all, transparency as a cornerstone, diversity breeds diversity, and more.
“While cultivating relationships with fellow founders over the years, I realized a lot of us aspired to back other great founders,” said Neal Bloom, Manager Partner of Interlock. “Joining together and having skin in the game in our community allows for a rising tide to lift all boats.”
Each investment opportunity is shared through the Interlock Capital platform, including a transparent and detailed deal memo, where investors can ask questions and make a commitment to fund a specific investment. You can apply to become a Venture Partner at https://interlock.capital.
Media Contact: Neal Bloom - media@interlock.capital
