Blue Water Angels

BlueWater Angels is a network comprising over 30 high-net-worth individuals and select organizations focused on investing in promising companies. While the primary goal is to achieve a return on investment, the network places significant emphasis on supporting the entrepreneurial community to foster economic growth in mid-Michigan and the state as a whole. In its inaugural year, BlueWater Angels received funding requests from more than 100 companies, conducted detailed reviews of nearly 40, and heard presentations from a dozen firms, ultimately closing its first investment in a local advanced materials company. Currently, the annual investment capital available exceeds $1.4 million, with expectations for continued growth in the future.

Ken Kousky

Co-Founder, President and Chairman

12 past transactions

GreenMark Biomedical

Convertible Note in 2022
GreenMark Biomedical Inc. is a healthcare company focused on developing minimally invasive technologies utilizing biopolymer nanoparticles derived from natural starch. Founded in 2016 and based in East Lansing, Michigan, with a laboratory in Ann Arbor, the company aims to enhance diagnostic and treatment capabilities in dentistry and oncology. GreenMark offers a mouth rinse product that highlights cavities and early-stage lesions, allowing dentists to accurately assess dental issues using standard dental curing lamps. Additionally, the company is working on medical applications that target anti-cancer drug delivery, facilitating site-specific treatments. Through its innovative approach, GreenMark Biomedical seeks to provide effective health-based solutions that improve patient care.

Ocuphire Pharma

Seed Round in 2019
Ocuphire Pharma, Inc. is a clinical-stage biopharmaceutical company based in Farmington Hills, Michigan, dedicated to developing and commercializing therapies for various ophthalmic disorders. The company's primary focus is on innovative treatment options for front and back of the eye conditions, with its lead product candidate, Nyxol eye drops, currently in Phase 3 clinical development. Nyxol is a once-daily, preservative-free formulation aimed at addressing issues such as dim light or night vision disturbances, pharmacologically-induced mydriasis, and presbyopia. Additionally, Ocuphire is advancing another candidate, APX3330, a twice-daily oral tablet, which is entering Phase 2 clinical trials to target diabetic retinopathy and diabetic macular edema by inhibiting angiogenesis and inflammation. The company also seeks to explore opportunities for acquiring additional ophthalmic assets and forming strategic partnerships for global commercialization.

GreenMark Biomedical

Seed Round in 2019
GreenMark Biomedical Inc. is a healthcare company focused on developing minimally invasive technologies utilizing biopolymer nanoparticles derived from natural starch. Founded in 2016 and based in East Lansing, Michigan, with a laboratory in Ann Arbor, the company aims to enhance diagnostic and treatment capabilities in dentistry and oncology. GreenMark offers a mouth rinse product that highlights cavities and early-stage lesions, allowing dentists to accurately assess dental issues using standard dental curing lamps. Additionally, the company is working on medical applications that target anti-cancer drug delivery, facilitating site-specific treatments. Through its innovative approach, GreenMark Biomedical seeks to provide effective health-based solutions that improve patient care.

Life Magnetics

Seed Round in 2018
Life Magnetics is focused on developing innovative medical technology that simplifies RNA analysis for diagnostics, therapeutics, and research. The company has created a graphene-based magnetic bead specifically designed for RNA diagnostics, which enhances the efficiency and accuracy of RNA isolation. Their technology utilizes carbon-based methods to isolate single-stranded nucleic acids, achieving high yield and purity even from complex biological samples. This approach allows biotechnicians to carry out RNA isolation more effectively, making the process less error-prone, cost-effective, and time-efficient. Through this advancement, Life Magnetics aims to improve the reliability of RNA analysis in various applications.

GreenMark Biomedical

Seed Round in 2018
GreenMark Biomedical Inc. is a healthcare company focused on developing minimally invasive technologies utilizing biopolymer nanoparticles derived from natural starch. Founded in 2016 and based in East Lansing, Michigan, with a laboratory in Ann Arbor, the company aims to enhance diagnostic and treatment capabilities in dentistry and oncology. GreenMark offers a mouth rinse product that highlights cavities and early-stage lesions, allowing dentists to accurately assess dental issues using standard dental curing lamps. Additionally, the company is working on medical applications that target anti-cancer drug delivery, facilitating site-specific treatments. Through its innovative approach, GreenMark Biomedical seeks to provide effective health-based solutions that improve patient care.

RetroSense Therapeutics

Series B in 2015
RetroSense Therapeutics is a biotechnology company developing life-enhancing gene therapies designed to restore vision in patients suffering from blindness due to retinitis pigmentosa (RP) and advanced dry age-related macular degeneration (advanced dry-AMD). There are currently no FDA approved drugs to improve or restore vision in patients with these retinal degenerative conditions. The company's approach to using optogenetics in vision restoration is based on pioneering, proprietary research conducted at Wayne State University and Massachusetts General Hospital. Founded in 2009, RetroSense Therapeutics is headquartered in Ann Arbor, Michigan.

RetroSense Therapeutics

Series A in 2015
RetroSense Therapeutics is a biotechnology company developing life-enhancing gene therapies designed to restore vision in patients suffering from blindness due to retinitis pigmentosa (RP) and advanced dry age-related macular degeneration (advanced dry-AMD). There are currently no FDA approved drugs to improve or restore vision in patients with these retinal degenerative conditions. The company's approach to using optogenetics in vision restoration is based on pioneering, proprietary research conducted at Wayne State University and Massachusetts General Hospital. Founded in 2009, RetroSense Therapeutics is headquartered in Ann Arbor, Michigan.

Life Magnetics

Seed Round in 2013
Life Magnetics is focused on developing innovative medical technology that simplifies RNA analysis for diagnostics, therapeutics, and research. The company has created a graphene-based magnetic bead specifically designed for RNA diagnostics, which enhances the efficiency and accuracy of RNA isolation. Their technology utilizes carbon-based methods to isolate single-stranded nucleic acids, achieving high yield and purity even from complex biological samples. This approach allows biotechnicians to carry out RNA isolation more effectively, making the process less error-prone, cost-effective, and time-efficient. Through this advancement, Life Magnetics aims to improve the reliability of RNA analysis in various applications.

GreenLancer

Series A in 2013
GreenLancer Energy, Inc. is an online marketplace that specializes in providing design, engineering, and construction solutions for solar and electric vehicle charging contractors. The company offers a wide range of services, including feasibility studies, permit package services, concept design, and financial analysis. These services encompass electrical design, CAD modeling, system layouts, and detailed engineering documents, ensuring compliance with industry standards. Since its establishment in 2011 and based in Detroit, Michigan, GreenLancer has effectively managed clean energy projects through its platform, which streamlines the ordering process and connects solar installers with qualified outsourcing partners. The company has supported over 7,500 contractors on more than 200,000 projects, facilitating the deployment of $2.5 billion in clean energy initiatives across the nation. With a dedicated support team, GreenLancer ensures the success of permitting, interconnection, and engineering processes, making it a key player in the renewable energy sector.

Advanced Battery Concepts

Debt Financing in 2013
Advanced Battery Concepts, LLC is a company specializing in the design and development of bi-polar lead acid batteries. Founded in 2008 and based in Clare, Michigan, it aims to enhance battery performance across various sectors, including military, industrial, stationary, renewable, automotive, and motive markets. The company focuses on advancing battery electrode technologies to address the challenges associated with bipolar batteries. Its innovative products offer uniform current density, increased active material utilization, and improved energy and power density, which contribute to enhanced performance at lower production costs compared to conventional lead-acid batteries. Advanced Battery Concepts was previously known as Advanced Battery Concepts Michigan before rebranding in March 2011.

AzulStar

Venture Round in 2011
AzulStar, Inc. is a provider of 4G and 5G wireless broadband Internet and communications services, catering to commercial, government, and multi-tenant unit clients. Established in 2003 and based in Ada, Michigan, the company operates carrier-class networks in key markets in Michigan and New Mexico. AzulStar offers a range of services, including high-speed Internet access, managed wireless networking, and intelligent transportation solutions. The company utilizes open standards wireless technology and an all-IP wireless architecture to ensure high performance and reliability in its broadband offerings. AzulStar has received recognition for its innovative approaches and commitment to service quality in the wireless broadband access sector.
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