Loon Creek Capital is assisting the Boise Angel Alliance in raising a state-wide fund in Idaho. We are setting up meetings and presentations all over the state to help spread the fever of Angel Investing and create a state-wide network of active investors. Read more about it below:
Accredited Idaho investors are sought for a newly formed statewide angel fund that will provide capital to early-stage or pre-revenue companies based in Idaho. An accredited investor is defined by the US Securities and Exchange Commission and generally has, his with his or her spouse, a net worth greater than $1 million not including the equity in their primary residence.
The Gem State Angel Fund is being organized for the purpose of pooling the capital resources of accredited investors and investing those resources in private companies, including early-stage or pre-revenue Idaho companies approved by the members.
The self-governed fund is member managed; members are responsible for assisting with screening, due diligence, company monitoring and other duties.
Objectives include promoting business and economic development in the region while providing members with the potential for investment returns.
The fund is selling up to 40 units of membership at $50,000 per unit to accredited investors who are residents of Idaho.
The Gem State Angel Fund is affiliated with the Boise Angel Alliance and is the fourth angel fund formed under its auspices. Previous funds have limited their Idaho investments to companies located in the Treasure Valley. The Gem State Angel Fund is the first to seek investors from throughout the state with an intention to invest in companies statewide.
Members of the Boise Angel Alliance have invested more than $12 million over the past nine years in Northwest companies, primarily in the Treasure Valley. Their portfolio companies have had a significant economic impact, including creating more than 375 jobs in the Treasure Valley with a 2015 payroll of approximately $38 million.
Boise-based Loon Creek Capital Group Partners provides organizational services to the funds.
To learn more, please see www.gemstateangels.com or via email at firstname.lastname@example.org. For more information, contact W. Mark Roberts, interim chair, at 208-871-7106 or Steven D. Simpson, interim treasurer, at 208-863-6119.