Although investment capital might be tough to get in the current
market, it's still available. Below is a variety of new
resources.
Northeast
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.
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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.
National
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.
Midwest
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.
Southeast
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.
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