Cherrystoneangelgroup

Cherrystone Angel Group is a regional angel investor network based at 50 South Main Street in Providence, Rhode Island. Founded in 2004, it is described as Rhode Island's first organized angel investment group and invests primarily in New England, with reported coverage extending to New York. Its membership consists of qualified investors who have built their own companies or have extensive experience launching new ventures, with backgrounds spanning manufacturing, distribution, technology and service businesses.

The group invests at seed and early stage across many industry verticals, including life sciences, software and SaaS, consumer products, industrial technology, healthcare IT and fintech, and has also been categorized under business services, information technology, manufacturing and industrial, and transportation and distribution. Cherrystone typically invests between $250,000 and $500,000 to help a company reach its next stage, and states an intention to act as an active partner to founding teams by contributing industry expertise, business skills, customer introductions and board-level support.

Disclosed portfolio companies include EGAL PADS, Advanced Silicon Group, myBiometry, Amsel Medical, Architect Health, Rellevate, Flourish Care, Lenoss Medical, Clearlaw, Unruly Studios, Voltea, Hilltop BioSciences, Asearis, Laurent Pharmaceuticals, Qurate Health, NODAR, Akeyna, Knip, WindGap Medical, Narragansett Brewery, Jaia Robotics, Embue, iQ3Connect, Adept Materials, SMoLTAP, Attestiv and Streamroot. Reported exits include Medumo and Streamroot.

Business model

Cherrystone operates as a member-driven angel network rather than a pooled fund: qualified individual investors source, evaluate and syndicate investments in early and seed-stage companies, with members participating in investor meetings and the diligence process. Typical group investments range from $250,000 to $500,000 per company, and Cherrystone has acted as lead investor in seed rounds and co-invested alongside other angel groups and venture funds such as Slater Technology Fund, Walnut Ventures, Beacon Angels, River Valley Investors and the Magpie Neurosurgical Innovation Fund. Returns are realized through portfolio exits, including the reported sales of Medumo and Streamroot and the sale of Board on Track to TransACT Communications.

As an angel network, Cherrystone's members deploy their own capital into portfolio companies and seek returns through exits; one directory estimates the organization's annual revenue at $10 million to $25 million as of July 2026.

Traction

Reported cumulative activity of more than $25 million invested across 26 companies and participation in more than 80 funding rounds, with three new investments in 2024 (Flourish Care, Architect Health, Clearlaw), notable exits in Medumo and Streamroot, and the 2022 sale of portfolio company Board on Track to TransACT Communications. Headcount is listed as roughly 30 people (11-50 range) and membership at more than 50 investors.