Angel Investing

Kevin Learned: New angel fund ready to offer capital to Idaho startups

Director of the Venture College at Boise State and an experienced angel investorApril 16, 2014 

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Kevin Learned

STATESMAN FILE

I presented a report card last month on the impact of the first two local angel funds on the local community. This month I can announce the formation of a third angel fund in the Treasure Valley, known as the Capitol City Angel Fund.

Members of Boise-based Capitol City Angel Fund LLC have started screening fast-growing, entrepreneurial and innovative Southwest Idaho companies. Entrepreneurs interested in seeking capital from the fund can find information at boiseangelalliance.com.

Capitol City Angel Fund's Founding Chair Steve Sedlacek is an executive with Republic Services Inc. The fund's treasurer is Mary Andrews, Boise State University's director of university and industry ventures and a former venture capitalist.

In the interest of full disclosure, Loon Creek Capital Group LLC, an angel fund-servicing business owned by Denise Dunlap and me, assisted the new fund with its formation and is providing ongoing administration services to the fund.

The Boise Angel Fund, the first fund created in 2007, is now fully invested. The second, Treasure Valley Angel Fund, is about 80 percent invested. These two funds have offered a total of $1.8 million to 16 local companies, creating about 220 local jobs. The new Capitol City Angel Fund will allow members to continue their support of local, early stage entrepreneurs with capital, mentors and contacts.

Already the new fund has made its first investment alongside a deal led by the Treasure Valley Angel Fund. I can't disclose the name of the company yet, as it is still actively seeking investors.

The three funds operate under the umbrella of the Boise Angel Alliance, which exists to educate angels on best practices in angel investing as well as to provide capital to Treasure Valley entrepreneurs.

All three funds are part of a network of angel investors from Salt Lake City to Seattle. This facilitates deal sharing, which provides additional expertise and capital to Idaho entrepreneurs while enabling the Boise-based funds to spread investment risk across a more diversified portfolio.

The alliance and its funds are member-driven organizations. Members screen qualified, local startups by conducting an extensive due diligence process. They also coach entrepreneurs on how to pitch their companies and help them network. Membership in the Boise Angel Alliance is by invitation to accredited investors. Membership information is available from the alliance website above.

The Boise Angel Alliance will be presenting two half-day seminars on Wednesday, May 7 - one on conducting due diligence and the other on the valuation of early stage companies. The seminars are open to both angels and entrepreneurs. These are professional seminars, produced by the Angel Resource Institute, the educational arm of the Angel Capital Association. Renowned angel investor Bill Payne will teach them. Registration information is available from the alliance website.

kevinlearned@boisestate.edu, kevinlearned.blogspot.com, 426-5540

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