What does it mean for local investing?
While GSA remains sector-agnostic, chairman Mike Eckert told Hypepotamus that connecting with MEDA Angels made sense given the fact that investments have been heavily concentrated in healthcare, biotech, and biopharma startups (40% of GSA’s current portfolio is into the health-related sector).
Eckert noted that since the announcement was made last week, GSA is already fielding a surge in inbound calls from venture capital firms and healthcare-focused accelerators looking to collaborate.
MEDA Angels, founded seven years ago by Elizabeth Cho-Fertikh, has a portfolio of 26 healthcare startups (including successful exits like Atraverse Medical and Citus Health). But as the group scaled, Cho-Fertikh began looking for a partner with a larger infrastructure, which led her to reach out to GSA.
As part of the transition, Cho-Fertikh will join the Gulf South Angels Board of Directors, ensuring her network’s deep clinical expertise directly shapes GSA’s future investments.
Navigating the Era of “Ballooning” Deals
The consolidation of these two angel groups highlights a broader, macroeconomic trend.
“Today, angel groups are working together more to get deals done, simply because deal size has ballooned over the last few years,” Eckert explained.
Eckert told Hypepotamus that he sees the group as an “importer of deal flow.” The group reviews upwards of 50 deals a month. By bringing 50 specialized healthcare minds into the fold, Eckert expects GSA will dramatically “enhance the quality of the deal flow” they review.
When asked why healthcare technologies are commanding so much capital and attention right now for GSA members, Eckert said that he thinks members “like leading-edge solutions to real problems.”
Meet the Chairman
Longtime members of the Atlanta tech scene will know Eckert from his time as President and CEO of The Weather Channel (1985-1999), and later as the Executive Chairman of the Atlanta Technology Angels.
But in 2014, family called. Eckert packed up and relocated to New Orleans to be closer to his grandchildren. Since 2014 as the Chairman of Gulf South Angels (originally called NO/LA Angel Network), the group has seen 19 exits and liquidity events, which has helped spin the “flywheel” of capital into the startup community.
GSA has participated in 151 investment rounds across 75 companies over the last 12 years.
