MD Angels

MD Angels is the premier Midwest physician-led angel investment group, uniting the insight of practicing clinicians with the vision of healthcare entrepreneurs.

MD Angels targets early-stage healthcare startups—typically in the seed to Series A stage—that align with the clinical and entrepreneurial expertise of its physician members. Ideal sectors include medical devices, digital health, diagnostics, therapeutics, health IT, and tech-enabled services. Startups should address real clinical pain points and offer solutions that physicians can validate, use, or recommend within healthcare systems.

Companies should have early traction such as clinical validation, pilot data, or commercial contracts, and a clear regulatory and go-to-market strategy. MD Angels prioritizes transparency—ideal companies provide open access to cap tables, commit to quarterly updates, and offer equal shareholder communication regardless of check size.

Startups must also support tax-efficient investment structures. Preference is given to Illinois Qualified New Business Ventures (QNBVs), and those eligible for Section 1202 or 1244 tax benefits. MD Angels manages K-1 filings and document logistics through streamlined SPVs, so companies are able to accept pooled capital without added complexity.

Due diligence readiness is essential. Startups should be willing to undergo detailed analysis that incorporates clinical insights on workflow and procurement, regulatory review, and advanced financial modeling (e.g., Markov chains, Monte Carlo simulations). While headquartered in the Midwest, MD Angels invests nationally, with a preference for companies offering scalable solutions and strong exit potential within 5–7 years.