The Biz Foundry exists to grow the entrepreneurial ecosystem in the Upper Cumberland Region, an often overlooked part of economic development.
We focus on a few key areas that can help accomplish that goal. One of which is access to capital in the region.
Over the years we’ve connected and partnered with a host of non-traditional capital sources. We helped develop a micro-loan fund for the region, partnered with CDFIs, private equity groups, and a host of others to fill the equity gaps. Now it’s time to add the last missing piece.
Angel Investors Fund
Having a local Angel Fund that can invest in local startups keeps money in the region and allows entrepreneurs to grow here. It also allows investors to keep their money invested locally and receive returns while growing the economy in our region. It’s one of the last pieces of building the infrastructure that local entrepreneurs need.
Why Angel Investors are Different
Angel investors are not your typical “Venture Capitalists”. They invest to help their “homegrown” companies. Angel Investors help the entrepreneurs with advice and connections. They actually care about more than just returns or they wouldn’t be Angel investors.
The company we have contracted with to help build the fun put it best, “Venture Capitalists invest other people’s money. Angels invest their money.”
Angels Really do Exist
Over the last few months we’ve talked to a lot of individuals potentially interested in starting an Angel Investment Fund to invest in early stage companies. And we’ve been pleasantly surprised to find there are more “Main Street Investors” than we first thought!
They want to make a return on their investments and support local entrepreneurs.
What a concept!
Angel Investors Fund Details
The Biz Foundry is sponsoring the fund, but it will be owned and managed by the members with the help of a professional fund manager.
We, and the group, hope to make some formal announcements by the end of 2022.
If you, or any of your friends, family or associates are interested in being a part of developing a local Angel fund please email me: jeff@thebizfoundry.org.
