NCET

The Reno Angels are open for business and are looking for early- and mid-stage companies that need funding. The Angels also announced their summer membership drive, their new logo and website, and their initial slate of officers.

Founded earlier this year, the Reno Angels’ goal is to meet the growing demand for risk capital needed by entrepreneurs and other early-stage companies. “Unlike our neighbors in California, Nevada has a very limited number of angel and venture capital funding sources,” said Gary Foote, Reno Angels Chair and co-founder, “Nevada’s future economic growth, vitality and diversity depends on entrepreneurs. In turn, these entrepreneurs need access to risk capital that angel groups are uniquely qualified to provide.”

Call for Early-Stage Companies

The Reno Angels accept online applications from early- and mid-stage companies seeking $100,000 to $500,000 in funding. Business plans are evaluated based on management team, market opportunity, growth potential, as well as other factors. Companies seeking funding must meet the Reno Angels’ investment criteria and must be fully prepared with a polished business plan and presentation. Interested companies can find the Reno Angel’s investment criteria at www.RenoAngels.org and must apply online. (Please note that applications may ONLY be submitted online.)

Summer Membership Drive

The Reno Angels are conducting their summer membership drive for new angel investors. Angel investors are people who invest in high risk / high reward businesses and are often interested in sharing their experience and expertise with other entrepreneurs. Angel investors often invest a total of $25,000 to $50,000 each year.

“Greater Reno-Tahoe is blessed with a large number of high-network individuals, most with entrepreneurial, management or early stage investment experience,” added Dave Archer, Reno Angels Treasurer and co-founder, “Membership in the Reno Angels gives them an opportunity to help Nevada’s young companies and to build Nevada’s economy, while receiving personal satisfaction AND economic returns in the process.

To participate in an angel investment group, an individual must meet the US Securities and Exchange Commission’s definition of an “Accredited Investor.” (Details available at www.sec.gov/answers/accred.htm)

The Reno Angels’ next general membership meeting will be held at Hale Lane on Monday, July 14 at 5:30 pm. People interested in attending the meeting should contact the Reno Angels at Membership@RenoAngels.org

Reno Angels’ Website

The Reno Angels’ new website at www.RenoAngels.org contains useful information and resources for entrepreneurs and Reno Angels’ members, and allows companies seeking funding to submit their business plans and to apply online.

Reno Angels’ Logo

The Reno Angels’ new logo was designed by Noble Studios. The Reno Angels selected Noble Studios on the basis of their strong branding and design skills, and their substantial body of work with companies and organizations throughout Greater Reno-Tahoe.

Reno Angels Officers and Board Members

The Reno Angels also announced the election of the 2008 officers and Board members:

• Chair and co-founder – Gary Foote, Harry’s Business Machines
• Vice Chair – Peter Menicucci
• Treasurer and co-founder – Dave Archer, NCET
• Secretary and co-founder – Mike Hurley, Fusion Funds
• Board Member – Jack Schwartz

About the Reno Angels

The Reno Angels were founded in 2008 by a group of accredited investors dedicated to providing equity capital to early and mid-stage entrepreneurial companies, primarily in the Greater Reno-Tahoe area. Members of the Reno Angels have extensive experience in founding, building, managing and/or financing companies in a wide variety of industries. The Reno Angels mentor and coach the entrepreneurs in whom they invest, serve on their boards, provide contacts and assist with team building, strategic planning and fundraising.  The Reno Angels also work closely with other angel groups throughout the country as well as regional and national venture firms.  Please visit www.RenoAngels.org for more information.