Great Lakes Angels elects new president to lead investment group

Great Lakes Angels, a metro Detroit angel investor group, has new president in Pietro Sarcina.

David Weaver founded Great Lakes Angels and served as its president for years. He is stepping aside to serve as chairman and founder of the organization. Sarcina has made a career as an international banker and is looking forward to the challenge of running Great Lakes Angels.

“I have always been interested in entrepreneurs and startups,’ says Sarcina. “I was a CFO at a fast-growing startup 20 years ago.”

Great Lakes Angels is a organization made up of angel investors, high-net-worth individuals who make investments in small businesses that can scale. Often times that means investing tens of thousands of dollars into early stage tech startups with hopes of locking in a exponential return.

Great Lakes Angels looks to do this by recruiting new people with deep pockets into the local investing community. It will offer them training in how to make angel investments, recognize which ones would work best for them, and evaluate real value in these startups. The organization is also looking to make more inroads with local research universities with the idea of helping turn the research they produce into new economy businesses.

“We like to say we’re building Great Lakes Angels 2.0,” Sarcina says.

Source: Pietro Sarcina, president of Great Lakes Angels
Writer: Jon Zemke

Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.