Pittsburgh Angel Investor Featured in WSJ

Angel Investing, Pittsburgh No Comments

Pittsburgh area angel, Mel Pirchesky and his firm Eagle Ventures, was featured in the Wall Street Journal this past week for his $9 million investment in Series A round for Cardiorobotics

Since 1981, Mel Pirchesky has acted as a consultant to Pittsburgh-area high-tech start-ups and aging manufacturing companies to help them raise equity funding or turn around their business.

Every so often, though, he falls in love with a deal he can’t pass up and decides to pool capital from his closest business associates to take a position in the company.

“If I see a good opportunity, I’ll find people who want to co-invest with me,” said Pirchesky, who runs a one-man investment banking shop in Pittsburgh called Eagle Ventures.

Those people include a network of shareholders in his firm, which represent 41 area businesspeople, 12 surgeons and seven physicians in other specialties, to create an ad-hoc investment pool.

“We do only about one [investment] a year,” he said. “That’s the advantage of not having a fund; I don’t have any pressure to invest.”

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