On a warm Monday afternoon in early February, most of the members of Robin Hood Ventures, a Philadelphia angel investing group, are gathered in a conference room in a building in an industrial park in Wayne, Pa. The building is owned by Safeguard Scientifics, a venture capital firm that has co-invested with Robin Hood on a number of deals.

Chris Cashman, CEO of Protez Pharmaceuticals, is in the lobby, waiting to be called in. Dressed in a black suit, blue shirt, and conservative red tie, he resembles a less gregarious George W. Bush. Protez is developing several drugs that fight bacteria that have become resistant to existing drugs. Cashman is putting together a B round of financing that he thinks will total $10 million to $15 million, and he’s hoping to get some bridge financing from Robin Hood — money that will tide him over until the B round is complete. “If all my timing comes together, I’m gonna be fine,” he says later. “But in case there’s a hiccup that costs me a month or two on the financing, then this is where the Robin Hood bridge could come in and help the company.”

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