Invest in Penn State's Next Big Idea
A University-Affiliated Angel Investment Network
Nittany Angels is Penn State’s official angel investment network — a curated community of accredited investors who believe in the power of University-driven innovation. Members gain access to early-stage equity investment opportunities in high-growth companies founded by Penn State alumni, faculty, students, and other University affiliates.
Membership is open to individuals who share a meaningful connection to Penn State and meet accredited investor qualifications. Whether you’re a seasoned investor or just beginning to explore early-stage deals, Nittany Angels offers the structure, expertise, and community to invest with confidence.
Penn State affiliated companies benefit from access to capital, strategic guidance, and a powerful alumni network. The University benefits when its intellectual property is commercialized and its founders succeed.
Why Nittany Angels Exists
Member Criteria
Affiliation
The Nittany Angels Network is designed to strengthen the success of Penn State and its alumni community. For this reason, membership is open to individuals with a meaningful affiliation to Penn State, including alumni, faculty, staff, students, donors, and close family members of those groups.
All members must also meet accredited investor requirements in accordance with SEC guidelines.
Accreditation
Dues
Engagement
Nittany Angels is built on active participation and shared commitment. Members are expected to participate Nittany Angels pitch events (7-10 planned each year), contribute to screening and due diligence efforts, and thoughtfully build their individual investment portfolios.
When appropriate, members may also serve as mentors, advisors, or board members to Nittany Angels portfolio companies, offering their experience and guidance to help Penn State-affiliated founders succeed.
Meetings
Code of Conduct
Member Benefit Package
- Access to curated deal flow of early-stage equity investment opportunities in Penn State-affiliated companies
- Membership open to individuals, trusts, LLCs, or entities wholly owned by accredited investors
- Collaborative investment assessment — leverage the expertise of members across diverse industries and domains
- Experienced leadership to guide investment structure, terms, and pricing
- Administrative support with tax preparation and portfolio management
- Network access — work alongside alumni with complementary backgrounds and shared investment interests
- Potential for above-market financial returns (with commensurate early-stage risk)
- Member onboarding and ongoing investment education
- A meaningful, differentiated way to support Penn State and its innovation mission
Investment Opportunities
Startups
- A meaningful Penn State affiliation
- A large and growing market opportunity
- A differentiated product, technology, or business model
- Evidence of customer demand and commercial traction
- A strong, coachable founding team with the ability to execute
- Companies commercializing Penn State intellectual property
- Companies participating in Penn State innovation, entrepreneurship, or accelerator programs
- Companies with Penn State-affiliated founders, executives, board members, advisors, researchers, faculty, staff, students, alumni, or investors
Nittany Angels generally seeks opportunities that exhibit:
- The potential to build a venture-scale business
- Clear differentiation and a sustainable competitive advantage
- A credible path to significant revenue growth
- Early signs of product-market fit, including customer adoption, pilot programs, recurring revenue, or other market validation
- A financing strategy appropriate for angel investment
Applications are reviewed on a rolling basis. Selected companies may be invited to participate in an initial screening discussion and, if there is sufficient investor interest, present to Nittany Angels members for further consideration.
Please note that submission of an application does not guarantee a presentation opportunity or investment.
Nittany Angels Leadership
Joe Herbst is the Executive Director of Nittany Angels, Penn State’s early-stage investor network connecting Penn State-affiliated startups with capital and experienced investors.
He brings more than 30 years of leadership in finance and entrepreneurship, including 12 years in commercial lending and multiple roles as CFO for early-stage technology companies spanning manufacturing, software, financial services, e-commerce, digital media, and consumer products.
An active angel investor since 2004, Herbst previously served as Managing Partner of Robin Hood Ventures, one of Philadelphia’s longest-standing angel groups. He also served eight years on the board of the Penn State Research Foundation, including as chair.
Herbst holds a finance degree from Penn State’s Smeal College of Business.
Kunci Szentes is Program Director of Nittany Angels, managing operations, fostering a collaborative investor community, and curating high-impact dealflow.
Prior to joining Penn State, she spent eight years at the University of Notre Dame’s IDEA Center, helping build its venture and investor network. As Fund Manager and Head of Investor Relations, she expanded the investor community and helped secure more than $3 million in funding for portfolio companies. She also served as an investor in the Notre Dame Bridge Fund, leading pre-seed investments and supporting companies as a board observer.
Kunci holds an MSc in Technology Entrepreneurship from the University of Notre Dame and a BSc in Molecular Bionics Engineering from Pázmány Péter Catholic University (Hungary).
Apply for Funding
Ready to Invest in Penn State Innovation?
Nittany Angels membership brings together accredited investors who share a commitment to Penn State and a belief in the transformative power of early-stage investing.
Become a Nittany Angel
Share a bit about yourself and we'll be in touch. Fields marked * are required.