Although investment capital might be tough to get in the current market, it's still available. Below is a variety of new resources.
Funding for internet data software firms; morning forum for all
New York City-based Hudson Ventures has created a new $130 million venture fund that primarily invests in Internet data software firms. Companies should be seeking $1 million to $5 million in second- or third-round financing and have a finished product that has a good market value and generates revenue. Ideally, investments should be in the Northeast Corridor.
Though the best way to connect with Hudson Ventures is through law firm or investor referral, you can also visit www.hudsonptr.com to research exactly what the investment criteria are, then submit a concise executive summary via e-mail.
New England entrepreneurs can have a potentially productive morning by presenting at one of Merchant-Banc's Angel Breakfasts. Held every six weeks-the next one is in mid-July-this breakfast forum allows three pre-screened firms to make 12-minute PowerPoint presentations, followed by a question-and-answer session.
The event targets companies in northern New England that are looking for $500,000 to $1 million. There's no cost to present, but you must be pre-screened at MerchantBanc's Web site.
Growth fund targets women- and minority-led companies
Women and minority entrepreneurs seeking $1 million to $3 million to grow their businesses should consider talking with SB Partners.
The Chicago firm's new $40 million private equity fund targets existing, profitable women- and minority-led firms with experienced management teams that are looking to make acquisitions, grow their firms or recapitalize them.
The fund will look at investments anywhere in the country as long as the company is operating in a growing industry sector. The initial investment may be augmented by additional investments from SB, and fund managers expect to exit in five years or less.
To get more information, visit the Web site, then send a business plan to the contact person listed.
Online bulletin board welcomes business plans; web site lists vcs
U.S. entrepreneurs seeking investments of $100,000 to $2 million can now post for free their business plans on the ChicagoAngels online bulletin board. Although all applications are welcome, the focus is on the Great Lakes region.
The site lets you post your business plan after completing an application. Your plan is automatically rated and remains on the site indefinitely. If interested, investors contact you directly.
The recently launched Illinois Venture Capital Association provides a free comprehensive list of area venture firms with links to their sites.
Forum for minority-led companies
Minority entrepreneurs in Alabama, Georgia, Florida, North Carolina, South Carolina, Tennessee and Texas who need $1 million to $10 million to help grow their companies can apply to participate in the first Southeast I-DealFlow Forum, scheduled for November 2 in Atlanta. Minority-led businesses with high growth potential are eligible to apply to be one of the 20 to 30 companies chosen to present at the forum (only presenters can attend).
Pre-forum activities include a one-day boot camp as well as coaching in all aspects of presenting to investors, from structuring your pitch to developing the showmanship needed.
July 20 is the deadline to submit a free online application at www.idealflow.org. If you're chosen, there will be a presentation fee, but it shouldn't exceed $500.
- CoMotion Venture Captial Fund, 1111 Third Ave., #2400, Seattle, WA 98101