For Immediate Release
June 23, 2017
New W2 Fund Sets June 30 Deadline to Apply for Initial Investments
After initial investment round, Fund will evaluate applicants year-round
Following its initial investments, W2 will evaluate deals to fund high-growth startups throughout the year. A core group of angels who have been co-investing as part of the Willamette Angels Conference (WAC) will be involved in evaluating companies and mentoring promising startups.
W2 will increase capital available in the Southern Willamette Valley, and will offer mentoring guidance in addition to capital to selected companies.
“One of the biggest challenges for Oregon startups is access to capital,” said Marc Manley, Fund Manager for W2 and for the Willamette Angels Conference, LLC. “We know there are many investment-worthy startups in Oregon seeking seed-stage capital. The goal for the W2 Fund is to create more opportunities for investors and entrepreneurs to make a deal.”
According to the 2016 Capital Scan, a biennial report of the state’s business capital landscape, the infrastructure for starting businesses in Oregon has improved in each of the past three reporting cycles; however, startups still need more help finding funds.
“Forming new, local sources of capital is critical for the long term viability of Oregon’s entrepreneurial ecosystem. Regional seed stage funds like W2 are equally important for their commitment to consistent mentoring from leaders in the community, as well as the region. The combination of money and coaching will result in stronger companies and will help make Oregon more desirable for startups,” said Diane Fraiman, an advisor to the Willamette Angels and a Partner with Voyager Capital.
The W2 Fund will have a close partnership with the annual Willamette Angels Conference, and will continue evaluating companies for funding after the conference. Unlike the WAC, which awards investments once a year, the W2 Fund will review prospective deals on an ongoing basis. Willamette Angels Venture Associate Caroline Cummings said that the W2 Fund is intended to complement the WAC and make it stronger, not replace it.
“The WAC has been, and will continue to be, a very effective tool for entrepreneurial development in our region. But not every investment-worthy company is going to be ready to seek funding at the time of the conference, and they can’t afford to wait until the next year,” said Cummings.
The W2 Fund will make investments of between $25,000 and $125,000 in early stage companies. It seeks companies with an established proof of concept and are poised for growth. The Willamette Angels have invested across multiple industries and has a core strength in technology, consumer products, food and beverage, media, internet/web services and mobile.
For more information on the Willamette Angels and the W2 Fund, visit willametteangels.com.
The Willamette Angels is a group of mostly active and seasoned angel investors who have backgrounds in running or managing businesses. They actively mentor entrepreneurs and anticipate making their first investments this summer, and will review deals on an ongoing basis.
The W2 Fund is an investor-driven, professionally managed angel investment fund. Investors are invited to be actively involved in reviewing applicant companies, conducting due diligence, and making investment decisions. The fund manager takes care of all the legal and administrative details so investors can focus on learning about companies and selecting companies for investment.
W2 seeks to generate long-term capital appreciation by making early-stage debt and equity investments while supporting the development of innovative entrepreneurial companies. Learn more at www.willametteangels.com