Initially attempting to raise a traditional venture fund, the Palmers shifted to forming an angel group after discovering that high-net-worth individuals preferred direct involvement with startups. Adaptation Ventures plans to invest a minimum of $250,000 per company, with quarterly meetings for pitches and investor voting. The group targets companies making assistive technology more accessible and affordable, as well as those with broader market products that also aid people with disabilities. The Palmers' personal experiences and extensive backgrounds in startups and investing have positioned them to attract and support founders in this niche market.
Key takeaways:
- The global assistive technology market was valued at over $22 billion in 2023 and is expected to grow significantly by 2030.
- Adaptation Ventures is a new angel group founded by Brittany and Rich Palmer to provide early-stage funding for startups building accessibility tech.
- The founders, both with disabilities, experienced challenges in securing funding for disability-focused startups and aim to fill this gap with their angel group.
- Adaptation Ventures plans to invest a minimum of $250,000 into each company and will hold quarterly meetings for pitches and investor voting.