Ice Angels' was formed in 2004 by five founding members and The Icehouse to enable members to invest collaboratively leveraging the group's expertise, capital, networks, and hands-on support in order to invest in and support start-ups. Ice Angels grew to be among the most active angel investment networks globally comprising over two hundred entrepreneurs, executives, and professional investors investing >$10m per annum. In 2013 The Icehouse began raising funds and in 2019 established Icehouse Ventures to scale up that mission. Icehouse Ventures quickly grew to invest $100m+ per annum by 2021. Ice Angels' operation as an independent club was discontinued with many of the members becoming active investors in the Icehouse Ventures community.