Zino Society, a Seattle-based angel investment group started by Cathi Hatch, is closing down after 10 years of connecting entrepreneurs and angel investors.
Hatch confirmed the closure in an email to GeekWire, and shared a correspondence that she planned to send to members and supporters this week.
“It is time to say farewell to ZINO Society as we have currently known it,” Hatch wrote. “After personally funding the company for the past 10 years in partnership with the original investors, the time has come for us to close.”
In an email to GeekWire, Hatch said that she personally funded the organization, and that it was not able to subsist on its own.
Over the past 10 years, Zino hosted dozens of events, workshops and forums — connecting entrepreneurs with investors, oftentimes over dinner and wine.
In addition to the Zino Zillionaire Investment Forum, the organization hosted events for those interested in investing in green technologies, online marketplaces, speciality beverages and more.
Over 900 entrepreneurs came through the Zino ranks, and the organization says it knows of about $35 million that members invested in startup companies throughout the region. Over the years, close to 150 angel investors participated in the group’s angel funds, and overall membership fluctuated between 200 to 400 over the years.
Companies that were funded via Zino Society include Theo Chocolate, Impel Neuropharma and J&D Foods.
In August, Zino altered its application fees for entrepreneurs, eliminating the $995 annual membership program, and replacing it with $95 application fee and $99 monthly membership.
While Hatch said there are no investment groups exactly like Zino Society, she said there are plenty of groups which allow angels to interact with entrepreneurs. She’s encouraging her membership to connect with groups such as Keiretsu Forum, Puget Sound Venture Club, TiE/TAGS and Alliance of Angels. She tells GeekWire that angel investing is “alive and well” in the Pacific Northwest.
“Each person who has participated in our 10 year journey as an investor member, sponsor member, entrepreneur member, social member, libation professional member, keynote speaker, panelist, judge, staff member or guest has left footprints in my heart,” Hatch wrote. “Thank you for all the special memories!”
