Startup investors in Phoenix
The state award, angel group and university program that Phoenix and Arizona founders can apply to, what each publishes about itself, and how to reach it.
All amounts are in US dollars.
Who invests in startups in Phoenix?
Arizona founders with early revenue can apply to the Arizona Innovation Challenge, which awards $100,000 in non-dilutive funding, and pitch to Desert Angels, a Tucson-based angel group that invests in companies across the Southwest. ASU and Maricopa Community Colleges students can join ASU's Venture Devils program.
Angel networks in Phoenix
| Network | How it works | Who it looks for | Fees | How to apply |
|---|---|---|---|---|
| Desert Angels | A Tucson non-profit of 80+ accredited investors who invest individually. Meets monthly from September to June. Members have invested over $45 million in more than 105 presenting companies since 2000. | Startup and early-stage companies in the Southwestern US | Not published | Present Your Company application; reviewed on an ongoing basis |
Funds that invest in Phoenix startups
No Phoenix venture fund with published terms and an open application was confirmed for this page.
Programs that put founders in front of investors
- Arizona Innovation Challenge. $100,000 in non-dilutive funding, paid after milestones, plus three months of support. For companies incorporated less than three years, with a product real customers use, $5,000 to $50,000 in monthly recurring revenue and a plan to raise. The Fall 2026 cycle has closed; future dates aren't published yet.
- ASU Venture Devils. Mentoring for ASU and Maricopa Community Colleges student founders, with links to ASU's funding resources.
Which route fits your company?
| If your situation is… | Look at | Why |
|---|---|---|
| Incorporated under three years, $5,000 to $50,000 MRR | Arizona Innovation Challenge | Its published eligibility |
| Early-stage company in the Southwest | Desert Angels | Its stated region and stage |
| ASU or Maricopa Community Colleges student founder | ASU Venture Devils | Its stated audience |
Meeting an organization's criteria means you can apply, not that it will invest.
Track your MRR.
The Arizona Innovation Challenge sets a revenue band. Know your monthly recurring revenue before the next cycle opens.
What should you have ready before you apply?
- A product with real customers and monthly recurring revenue figures.
- A plan to raise capital, which the Arizona Innovation Challenge asks for.
- A deck for Desert Angels' application.
For how to run the raise itself, see how to raise a seed round.
Frequently asked questions
How much is the Arizona Innovation Challenge award?
$100,000 in non-dilutive funding, paid after required milestones, plus three months of support.
Is Desert Angels in Phoenix?
It is based in Tucson and invests in startups across the Southwestern US.
When does Desert Angels meet?
Monthly from September to June.