New Local Investor Network
Jobs, Incorporated and Advance Thief River are pleased to announce the launch of a new tool for supporting business startups, recruiting new business, and nurturing entrepreneurship. Two Rivers Angel Network is a newly formed group of local investors who have come together to invest in local area startups and emerging businesses.
Two Rivers Angel Network is a network of individual angels rather than a fund. Angel funds are comprised of a group of individuals who pool their money and make decisions together about investing the fund’s money. Two Rivers Angel Network members have not pooled funds; instead, each member invests as an individual, making his or her own decisions about what to invest in.
Advance Thief River Director, Michelle Landsverk, is enthusiastic about the opportunities the network brings to the area. “Entrepreneurship is such an important part of the local economy. In fact, if you look around Thief River Falls, it’s pretty obvious that the local economy rests solidly on the successes of its entrepreneurs. Going forward, we want to make sure that local entrepreneurial individuals have access to the financial resources they need to launch and grow a successful business here. Two Rivers Angel Network can play an important role in fostering more entrepreneurship in the area.”
Two Rivers Angel Network Goals
The goals of the network are to:
- Create a return on investment for members
- Enhance and diversify the local economy
- Strengthen the culture of entrepreneurship
The Network is not restricting itself to any particular industry or any specific size of investment. The only requirement is that the business be located in the local area and that members will receive an adequate return on their investment, with the exact terms of each deal varying from project to project. Projects can be financed through equity investments, debt, or convertible debt.
“I believe that the Network will likely provide the most benefit through seed funding,” said Landsverk. “There are people out there with industry expertise who don’t have the personal capital to get a business off the ground or who may not be able to put money together for the downpayment typically required by a bank. I think the Network may help some of these projects become reality, by providing a ‘leg up’ to to entrepreneurs with good ideas and good work ethic, along with the drive it takes to get a business up and running.”
The Network meets every other month. For more information on Two Rivers Angel Network, contact Michelle Landsverk via email, or by calling 218-280-1755.
For more on angel investing, read the ATR blogpost, Angel Investing.