FLORENCE, AL (PRWEB) NOVEMBER 19, 2015
Founded in 2007, the Angel Capital Group merged with RAIN Source Capital of Minnesota in 2014. The merger was created to form a national syndicate of angel groups and funds. Collectively the two networks have funded 137 companies.
Angel Capital Group CEO Eric Dobson elaborated on the importance of the North Alabama operation. According to Dobson, “the Shoals area has long been a creative community with a rich history that is often overlooked. The Mane Capital Fund members have a real vision to create innovative companies for a new economy. We look forward to many years of supporting economic impact and wealth creation in the region.”
The Shoals Entrepreneurial Center led the effort to establish this fund through a grant provided by the Alabama Department of Economic and Community Affairs and the Appalachian Regional Commission. The University of North Alabama College of Business played an instrumental role in building awareness and generating interest for the development of the North Alabama fund.
The fund’s general manager, Giles McDaniel, stated “the investors in the Mane Capital Fund have made a strong statement as to their desire to capture new opportunities for sustainable companies while enhancing economic development for North Alabama.” He added, “The Angel Capital Group brings critical expertise and national collaborations which will be key in the long term goals of the fund.”
Dobson stated, “We have found a great partner in the North Alabama region. There are many savvy business individuals and investors whose hearts are in the right place; they love startups and their impact on the region.”
About Angel Capital Group
Angel Capital Group is a fully syndicated “angel” capital private equity network with operations in 9 states. Together, ACG and Rain Source Capital have a 10-year history and have invested approximately $44 million in 131 companies across a variety of market sectors. The combined portfolios have created over 4,500 jobs and $750 mil in follow-on capital investments by other funds. For additional information regarding the Angel Capital Group and its investment criteria, visit them online at www.theangelcapitalgroup.com, @angelcapitalgr, www.linkedin.com/company/831505, or www.facebook.com/angelcapitalgroup.
About Shoals Entrepreneurial Center
The Shoals Entrepreneurial Center is a business incubator working with emerging companies in the region for the past 24 years. The SEC has proven to be a major component of the Shoals area’s economic development team. Since 1992, the SEC incubator network has incubated more than 150 businesses who have created more than 1,500 jobs. Find out more at www.shoalsec.com or www.facebook.com/shoalsec.
Angel Capital Group
Executive Director, Shoals Entrepreneurial Center