|
|
|
|
Entrepreneurs' Roundtable
September 16, 2 - 4 p.m.
UW - Madison
Memorial Union Terrace
Join WAN and other entrepreneurs for a discussion on early stage financing and business strategies.
This event is free thanks to the support of MG&E |
State of Investing
On-demand video
Joe Kremer, WAN director, gives a presentation on the current state of early stage investing in Wisconsin.
|
WAN Members
Investor-members
Appletree Capital
Badger AgVest
Baird Venture Partners
Capital Midwest
Capvest Venture Fund
Central WI Business Angels
Continuum Investment Partners
DaneVest
Daycholah Capital
Golden Angels Network
Kegonsa Partners
Lake Superior Angel Network
Marshfield Investment Partners
Mason Wells
MDC Venture Debt Fund
NEW Capital Fund
Peak Ridge Capital
Origin Investment Group
Pennies from Heaven
Phenomenelle Angels Fund
Promega Corporation
Silicon Pastures
St. Croix Valley Angel Network
Stateline Angels
Successful Entrepreneur Investors
Triathlon Medical Ventures
Venture Investors
Wisconsin Investment Partners
Women Angels, LLC
Informal networks: 1
Advisory Committee
Sec. Lorrie Keating
Heinemann (Chair)
Dept. of Financial Institutions
Sec. Dick Leinenkugel
Dept. of Commerce
Tim Keane
Golden Angels Network
Richard Leazer
Wisconsin Investment Partners
John Neis
Venture Investors
Tom Still
Wisconsin Technology Council
David Ward
NorthStar Economics
|
Newsletter Sponsors
| |
|
Wisconsin's entrepreneurs raised less money in the the first half of 2009 as compared to last year, $19.9 million versus $35.5 million for a decline of 56 percent. Within that amount venture capital dollars declined more, 81 percent, for a total of $6.5 million being invested in four companies (one deal was undisclosed). Learn what is behind the numbers and the latest trends along with a look back on 2008 by viewing WAN's on-demand video presentation on The State of Angel Investing in Wisconsin. |
 Lessons from the Roundtable
Start-up funding sources discussed at WAN roundtable Initial funding for a start-up is difficult to come by, especially in today's economic climate. It is important to create a financing strategy which includes not only how much money is targeted but also the types of investors and financing instruments. Follow this link to the financing continuum, a depiction of which investors to approach given the stage of a company.
An often overlooked funding option for start-ups is federally guaranteed loans issued through the SBA's 7(a) loan program. It is particularly helpful to work with a "SBA preferred lender" as they are able to self-underwrite some 7(a) loans, which makes the overall process faster. Learn more about program, including a listing of preferred lenders, by visiting the WAN resource pages for entrepreneurs and scrolling down to Debts and Grants.
The next WAN roundtable will be held September 16; follow this link to more details. |
The Wisconsin Portfolio
Putting risk capital to work  Each year the Wisconsin Technology Council and the Wisconsin Angel Network publish The Wisconsin Portfolio, which is a look at the past year's entrepreneurial investment climate in Wisconsin. The publication is designed as an introduction for out-of-state investors to Wisconsin and our resources, assets and entrepreneurs.
|
Are Investors Being Unreasonable?
Entrepreneurs who have completed or attempted funding rounds have most likely asked the question "Are investors being unreasonable with their funding terms and valuation?" Tim Keane, founder of the Marquette Golden Angels Network, recently tackled this contentious question on his blog, following this link to his post.
Keane maintains a blog titled "Startups and angels: Along the way to success" where he shares his thoughts and insights on the early stage investment market. |
Angel Groups Adapt Investment Strategies
The economic recession is having an impact on angel group investment strategies. Angel groups' 2009 strategies include increased investment in portfolio companies, preferences for co-investing, less appetite for new deals, fewer anticipated exits and a predicted increase in both quantity and quality of deal flow. These and additional findings are reported in a recent survey of angel group leaders conducted by the Angel Capital Association (ACA). Read the report here. |
Deals, Acquisitions and Exits
ORBITEC, $1.25 million by individual investors.
VitalMedix, Inc., $1 million by Wisconsin Investment Partners*, Successful Entrepreneur Investors*, St. Croix Valley Angel Network* and Capital Midwest Fund*.
Flex Biomedical, Inc., $985,000 by Wisconsin Investment Partners*, NEW Capital Fund* and Marquette Golden Angels*.
Aurizon Ultrasonics, undisclosed amount by NEW Capital Fund*, read more.
*WAN investor-member
Other investment news:
Oshkosh Corp. raised $358 million through a stock offering, read more.
ZBB Energy Corp. raised $1.9 million through a stock offering, read more.
Flex Biomedical, Inc. awarded $150,000 loan by the State of Wisconsin.
Inacom Information Systems acquired by Core BTS, read more.
Cellular Dynamics International (CDI) issued exclusive license, read more.
Autodesk acquired assets from BOSS International, read more.
|
Upcoming Events
Call for presenters: MidAmerica, deadline Sept. 18
| | |
|
 |
|
In Closing
During the economic downturn, angel investors are proving their value to the early stage, entrepreneurial community. For example, as reported by the Wisconsin Angel Network, angels networks and funds in Wisconsin increased their activity by nearly 30 percent in 2008, a year during which the overall early stage investment market declined by 30 percent, read more. As highlighted in Tim Keane's blog (see above) angel investors do not have to make investments, rather they chose to do so. Part of the driving force behind angel activity is their experience--most angel investors are exited entrepreneurs. They understand from personal experience that economic downturns are special moments when opportunities are created and significant wealth generation occurs for those who take risks. Learn more about the Wisconsin investment market by watching WAN's The State of Angel Investing in Wisconsin on-demand video presentation.
Please share eVestor with others; if you're not on our e-mail list, click here to join.
Joe Kremer, director
Wisconsin Angel Network
| |
|
|
|
|
