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Angel investors in Montana

4 angel investors and angel groups based in Montana, each listed with the evidence and sources behind it: SEC Form D filings, the investor's own site or a public announcement. 4 of them have a dated filing or deal in the last 12 months. That is 1 solo GPs, 2 syndicate leads and 1 angel groups.

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Who are the most active angel investors in Montana?

Ranked by board seats, deal vehicles and funds on SEC filings and dated deals in the last 12 months: Michael Goguen, David Torgerson, Susanne Meline and Frontier Angels.

How many angel investors in Montana are there?

4 on file, 4 with a dated filing or deal in the last 12 months. Angels writing personal checks rarely file anything with the SEC, so no list of angels is complete.

What do angel investors in Montana invest in?

Biotech & Pharma (1) and B2B Software (1) lead, by angels focused on each.

  • Michael GoguenSolo GP · Whitefish, MT

    Named as the only individual (MANAGING MEMBER OF THE GENERAL PARTNER OF THE ISSUER) on the Form D for TWO Bear Capital FUND II, LP, a $122.8M venture fund (May 2026) (6 vehicles on file: 2 funds, 4 SPVs). Also a non-executive director at 4 startups that filed Form D.

    Seed to Series B · checks $1.23M–$3.7M

    B2B SoftwareBiotech & Pharma

  • David TorgersonSyndicate lead · Bozeman, MT

    Named as one of two individuals (David Torgerson is the Manager of Encore General Partners LLC.) on the Form D for Encore SPV I LLC, a $21.3M venture SPV (Sep 2026).

    Pre-seed, Seed · checks $21.3M

    Sector focus not yet verified

  • Susanne MelineSyndicate lead · Bozeman, MT

    Named as one of two individuals (executive officer) on the Form D for Encore SPV I LLC, a $21.3M venture SPV (Sep 2026).

    Pre-seed, Seed · checks $21.3M

    Sector focus not yet verified

  • Frontier AngelsAngel group · Bozeman, MT

    Frontier Angels: listed as an ACA network member; its site describes the group; meets quarterly.

    Seed, Series A

    Sector focus not yet verified

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