The New Jersey chapter of Golden Seeds, supported by First Lady Tammy Murphy and the New Jersey Economic Development Authority (NJEDA), joined the national chapter in commemorating its 20th anniversary at a recent celebration at the Montclair Art Museum in Monclair, New Jersey, part of the Great Meadowlands Region.
The celebration also marked the NJEDA’s 50th year of driving economic impact and innovation in the state. Tammy Murphy, NJEDA’s Kathleen Coviello, and Golden Seeds co-CEO Loretta McCarthy were joined by New Jersey chapter leaders Joan Zief and Gina Tedesco, as well as partners and friends.
Founded in 2004, Golden Seeds is one of the nation’s largest early-stage angel investment firms focused on supporting women-led businesses, investing over $185 million into 250 companies.
The New Jersey Chapter
The New Jersey Golden Seeds chapter was founded in 2020 and has since invested close to $10 million to help woman-led startups. First Lady Tammy Murphy first organized the chapter in collaboration with the NJEDA to help close the funding gap for female-led startups.
“As Golden Seeds celebrates its 20th anniversary, it is important to recognize and celebrate the opportunities that our unique partnership between Golden Seeds and the NJEDA is creating for women-led startups and female entrepreneurs,” said Tammy Murphy.
“Together, we are ensuring that female founders have the resources and support they need to thrive by leveraging a national network of angel investors and thus creating a stronger and more equitable economy,” she added.
The largest angel network in the country, Golden Seeds is among the biggest and most active angel investment There are seven other chapters: Arizona, Atlanta, Boston, Dallas, Houston, New York, and San Francisco.
“I have no doubt that we are a world leader in financial services, pharmaceuticals, generative AI, fin-tech, and so many other industries, because we have invested in empowering female leaders across our state,” Tammy Murphy said.
Stronger NJ Economy
To support Gov. Phil Murphy’s goals of building a stronger and fairer New Jersey economy and creating the most diverse innovation ecosystem in the nation, First Lady Murphy and the NJEDA organized the New Jersey chapter of Golden Seeds to contribute to the creation of a strong, cohesive, and equitable angel investing community.
“Under Governor Phil Murphy and First Lady Tammy Murphy’s leadership, New Jersey is creating an environment where women-led businesses can succeed, by breaking down barriers to capital and encouraging a vibrant and equitable angel investment landscape,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “The New Jersey Chapter of Golden Seeds is supporting female founders in the Garden State with mentoring and investment opportunities, arming them with the tools needed to thrive.”
Golden Seeds’ members are dedicated to evaluating, funding, and helping companies with at least one woman in an upper management role who has an equity position.
“Although I’ve traveled and lived around the world and have been a long time member of Golden Seeds, investing and mentoring companies with diverse teams, I am a Jersey Girl born and bred,” said Golden Seeds Managing Director Gina Tedesco. “So it is immensely rewarding to play even a small part in helping to create this world class partnership to increase access to capital for all the incredible women-led companies in New Jersey, my own backyard.”
About Golden Seeds
Investors interested in Golden Seeds membership and the broader angel investing community can join an online forum to observe members as they consider future investments. Click here for more information.
Golden Seeds invests in companies with at least one woman in an upper management role and an equity position. They also provide guidance to entrepreneurs, including help with building teams and securing funding. Members evaluate companies, conduct due diligence, and monitor their progress. They also receive training in the Golden Seeds Knowledge Institute.
Founded in 2005, Golden Seeds is headquartered in New York City. They have invested over $175 million in more than 240 companies.
About the NJEDA
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy.
Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.