Top Illinois Healthcare Angel Investors

In 2024, Illinois showed amazing growth stats in the healthcare industry. Many cities likeAuroraandChicago have proven to become modern healthcare hubs for startups.

For example, the healthcare industry has contributed approximately 12.2% of Chicago’s total economic production, which amounts to around $69.7 billion. The city is home to over 26,000 healthcare-related companies and employs more than 600,000 people in this sector.

With such incredible growth, there’s no doubt that there are many active investors funding healthcare businesses.

Thinking who these investors might be?

Well, that is why, we have prepared the following list of the top 8 angel investors in Illinois that are actively investing in healthcare startups.

Table of content

• Here are the Top 8 Angel Investors in Illinois Who Fund Healthcare Startups
• Michael Rosa
• Russ Faulk
• Nicholas Rowland
• Colin North
• Jeff Vranek
• Tom Brennan
• Walter Florence
• Christopher Graber
• Wrap-Up:

Here are the Top 8 Angel Investors in Illinois Who Fund Healthcare Startups

Moving on to the list, i t’s important to note that the following investors have been categorized according to their total investments and active involvement.

Michael Rosa

• Focused Sectors : Artificial Intelligence, CRM, Health Care, Machine Learning, Biotechnology, Pharmaceutical, Analytics, Cyber Security, Network Security, Security, Biopharma, Medical, Health Insurance, Insurance, Data Integration, Electronic Health Record
• Present In: Illinois
• Notable Investments : Arctic Wolf, Lever, Snow Software, Partner Therapeutics, Homeward, Sauce Labs, Spiceworks

Despite starting just 5 years back as an angel investor, Michael Rosa has become one of the biggest and the most active private individual investors in Illinois. He has invested in dozens of businesses that show strong growth potential and usually makes early-stage investments through fundraisers or startup accelerators.

As an investor, Rosa prefers to invest in the technology, healthcare, and consumer products sectors, where he sees significant potential for growth and impact.

Similarly, Rosa also believes in guiding a startup and helping it out throughout the stages of a startup. The investment range of Michael Rosa can range up to $250,000.

Russ Faulk

• Focused Sectors : Artificial Intelligence, Big Data, Biotechnology, Clinical Trials, Enterprise, Enterprise Software, Health Care, Life Science, Machine Learning, Pharmaceutical, Consumer Research, Market Research, Product Research, UX Design, Advertising, Creative Agency, Marketing, Women Founded, Women-Led, Cyber Security, Information Technology
• Present In : Illinois
• Notable Investments: Promisec, CrossCheck Compliance, KnowledgeAdvisors, GoodTrust

Russ Faulk is also one of the most active healthcare investors in Illinois. He started funding startups in 2010, focusing primarily on early-stage companies that demonstrate strong potential for growth and innovation. Previously, Faulk has worked at Kalamazoo Outdoor Gourmet as a senior sales executive.

Faulk prefers to fund startups within the health tech, consumer products, and outdoor equipment sectors. His investment strategy includes participating in seed and Series A funding rounds, providing not only capital but also strategic guidance to help startups scale.

To date, Faulk has funded over 25 startups, contributing to their growth and success. His investment range can go up to $200,000.

Nicholas Rowland

• Focused Sectors : Health Care, Medical, Pharmaceutical, Information Technology, Hospital, Dental, Fitness, Dietary Supplements, Logistics, Sports
• Present In : Illinois
• Notable Investments : Empower Physical Therapy, SpendMend, Tarrytown Expocare Pharmacy, Canadian Orthodontic Partners

With over a decade in the investment field, Nicholas Rowland is an angel investor and partner at Sheridan Capital Partners. Rowland’s focus on healthcare, IT, and medical sectors reflects his deep industry expertise from roles at Providence Equity and MidOcean Partners. He backs early-stage companies through startup events and accelerators, looking for ventures that can yield 2–4x ROI.

Rowland’s investments average around $150,000.

Colin North

• Focused Sectors : Tech, Big Data, Security, IT, Logistics, Packaging Services, Employment, Legal, Health Care, Hospital, Marketing
• Present In : Illinois
• Notable Investments: Hulin Health, Innovative Packaging Company, Intuition Robotics, Cuseum, EyeSouth Partners, Optiva, Argentum Medical, and TandemHR.

Colin North, co-founder of iRobot, is a well-known investor in tech and robotics. North supports early-stage startups, particularly in health tech and logistics, that aim to revolutionize their industries. He prefers seed and Series A rounds, where he provides both capital and strategic mentorship to foster growth.

Colin North’s investment ranges between $100,000 and $300,000.

Jeff Vranek

• Focused Sectors : Electronics, Real Estate, Real Estate Investment, E-Commerce, Retail Technology, Software, Transportation, Health Care, Health Diagnostics, Medical, Business Development, Market Research
• Present In : US
• Notable Investments : Survey Sampling International, Riverchase Dermatology and Cosmetic Surgery, Tee International, Move This World, DRB Systems

Investing in businesses for nearly 15 years, Jeff Vranek is an experienced angel investor who is also the Principal at Prairie Capital.

When making investment, Jeff Vranek prioritizes startups that demonstrate strong growth potential and innovative solutions. Vranek prefers to invest in early-stage startups, particularly those in the healthcare, technology, and industrial sectors.

The investment range of Jeff Vranek can range up to $500,000 depending upon the startup and its estimated ROI.

Tom Brennan

• Focused Sectors : Biotech Healthcare, Medical, Life Sciences, Biopharma
• Present In : Illinois
• Notable Investments : KSQ Therapeutics, OncoResponse, Locanbio, AgBiome, One Biomed, Biopalette, Immune ID, Epirium Bio, Ultivue, Geneception, Bit Bio, and Erasca

Tom Brennan is also an active angel investor who has been funding startups for more than 7 years.

As a private investor, Tom Brennan prefers to invest in startups that are introducing a new idea and are led by experienced founders. He invests in startups that have a clear path to the market and usually invests in the series A rounds.

Tom Brennan’s investment range can range up to $600,000.

Walter Florence

• Focused Sectors : Machinery Manufacturing, Manufacturing, Mining, Health Care, mHealth, Nursing and Residential Care, Residential, Human Resources, Outsourcing, Small and Medium Businesses, Network Security, Open Source, VoIP, Internet, Telecommunications, Video
• Present In : Chicago
• Notable Investments : Stellcom, Gevity HR, Focal Communications, I-bridge, BroadStreet Communications

Known for his active involvement in funding healthcare startups, Walter Florence is a managing partner at Frontenac and an individual angel investor. He has been actively investing in startups since the mid-1990s, focusing on early-stage companies in the consumer products, business services, and food sectors.

Like most other investors, Walter Florence focuses on mid-market companies and startups that are generating decent revenue. Florance also has a strong preference for businesses that are led by experienced founders and have solid teams that can contribute to its growth.

The investment range of Walter Florence can range up to $400,000.

Christopher Graber

• Reach Out: Christopher Graber | LinkedIn
• Focused Sectors : Medical Devices, E-Commerce, Financial Services, Computer Vision, Software, Clinical Trials, Dental, Computer, SaaS, Human Resources, Recruiting, Biotechnology, Pharmaceutical
• Present In : Illinois
• Notable Investments : Eastern Dental, Anovia Payments, Jazz Pharmaceuticals

Working with Waud Capital Partners since 2007, Christopher Graber is an active angel investor who has funded many high-growth startups.

When investing, Graber focuses on businesses that can turn out to be a profitable investment and at least generate 5–6x ROI within 36 months of funding. Unlike other investors, Graber arranges a huge number of investor meetings with different startups and takes time to understand the startup’s long term goals and market strategy.

The average check size from Christopher Garber can range up to $1M, depending upon the estimated ROI and target market.

Wrap-Up:

Summing up, we have discussed the top 8 angel investors who should be on your target list when looking for an investment.

However, pitching to investors isn’t that easy and we know it. In the case of individual angel investors, most of them are looking to invest in fast growing businesses, help them throughout the procedure, and make huge profits.

That is where the 1st most important rule applies which states:

Make your startup look profitable and worth the time of the angel investors.

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Earlier the article was published here.