February 26th, 2015 by Eric Dobson
Knoxville, TN (PRWEB) February 26, 2015 – Angel Capital Group is proud to announce it has consolidated operations with RAIN Source Capital.
ACG has eight years in the market, has invested $4M in 26 companies, and has 200 members in six chapters across five states. ACG’s portfolio has created over 100 jobs and $12M in follow-on investment by other funds. RSC has created 25 angel capital funds, from $1M – $3M in size, across 8 states with 450 members over the last 10 years. These RAIN Funds and their members have invested over $40M in 106 companies and have an additional $5M in committed capital for future investment. RSC’s portfolio has created over 4500 jobs and $750M in follow-on investment by other funds.
RSC has a proven model for forming angel investment funds in both urban and rural communities. ACG has a proven model for sustaining, syndicating, and supporting angel groups across a wide geography. Together, the combined entity will blend the strengths of the two to create a truly national angel investor network with committed funds for investing in the most highly prized startups around the nation. By pooling the resources of both entities, new economies of scale are realized that will provide expanded opportunities for access to deal flow, social interaction, and new member talent for even stronger operations. The goal of the merged network is to be 50 chapters strong in 5 years with 1500 members, making it the largest angel group in the country. This will all mean a more efficient process for creating great companies, driving liquidity for our members, and realizing lucrative exits.
Eric Dobson, CEO of Angel Capital Group, elaborated on the advantages of the consolidation saying “This synthesis of two great companies is the next logical, evolutionary step for ACG. We intend to take advantage of opportunities resulting from a convergence of market trends in private equity investing.” Dobson added, “For those blessed with the ability to give back to the community through angel investing, we furnish a sheltering environment for growing your net worth and make it easy, fun, and social. We have assembled the right team with the right plan at the right time to create the first national fully syndicated angel network for early stage private equity investing.”
Steve Mercil, CEO of RAIN Source Capital, stated “We are pleased to be combining the expertise available through our networks to further enhance the benefits of angel investing for investors, entrepreneurs, and communities.”
About Angel Capital Group
Angel Capital Group is an “angel” capital private equity network with 200 members in six cities across five states including Denver, Co, Kansas City, Mo, Nashville, TN, Knoxville, TN, Charleston, SC, and South Florida (Ft. Lauderdale). The company was founded in 2008 in Nashville, TN and is headquartered in Knoxville, Tennessee. ACG has invested $4M in 36 companies across a variety of market sectors. ACG invests in 8 – 12 companies out of over 500 applications it receives per year. ACG’s resources have been used to create over 100 jobs across the portfolio and have generated over $20M in follow-on investment capital for these companies. For additional information about Angel Capital Group and its investment criteria, visit online atwww.theangelcapitalgroup.com, @angelcapitalgr, www.facebook/angelcapitalgr.
About RAIN Source Capital
RSC has created 25 angel capital funds, from $1M – $3M in size, across 8 states with 450 members over the last 10 years. These RAIN Funds and their members have invested over $40M in 106 companies and have an additional $5M in committed capital for future investment. RSC’s portfolio has created over 4500 jobs and $750M in follow-on investment by other funds.
Also, RSC is a principal of the InvestAmerica NW, LLC, and the General Partner of Invest Northwest, LP, which is a venture capital fund focused on middle market and later-stage companies. InvestAmerica has invested $15M in 20 companies. RSC empowers angel investors using a proprietary process to create, capitalize, and ignite angel member managed funds. For additional information about RAIN Source Capital, visit online at www.rainsourcecapital.com.
CEO, Angel Capital Group
118 North Peters Road, Suite 159
Knoxville, TN 37923