Great Lakes Angels Group is transitioning to an Angel Fund
Great Lakes Angels (GLA) has served the accredited investor community in the Great Lakes Region as the very 1st formal angel group formed in 2002. GLA was the 1st Angel Group nationally to seek “cross border” deals (in Ontario) with angels and with the support of the Detroit Consulate General on numerous occasions.
**In spite of all the angel groups formed after GLA in Michigan – not enough angel capital is reaching worthy early-stage start-ups. GLA conducted more investor education seminars than any group in Michigan to help investors learn the simple mechanics of angel investing and become active investors. **
David Weaver, GLA Founder & Chairman, believes that many of the wealthy individuals (accredited investors) and Family Offices would participate with personal capital into local Michigan based companies if it would be easier for them, as passive investors, rather than joining a group and attending meetings. “I have seen investors attend events when investible companies present and want to go the next step – but it breaks down when you have to perform your own due diligence, work with term sheets, etc.” said Mr. Weaver.
One successful solution to enjoy help building successful companies and seek a return is to join a fund. Many other states have also found the need to form some angel funds along with having independent groups.
GLA has decided to form a true Angel Fund for the Region and work with City Side Ventures, of Birmingham, to help manage the fund. The goal is to achieve this over the summer. Mr. Weaver will become a partner in City Side Ventures and act as the Chief Investment Officer.
The Great Lakes Angels is a nonprofit corporation. The mission is to organize and mentor angel investors and provide a forum for them to grow in knowledge and wealth and foster more of the same – to help invest in entrepreneurial companies in the Region. GLA typically has numerous “deals” presented, high-level content and quality speakers and panelists on key issues of angel investing. Current “Angels” and high net worth “potential Angels” can meet in a confidential and educational environment to discover opportunities for mutual areas of investment. Experts can be identified and shared to assist in due diligence on technologies outside the individual’s own comfort zone and help transition investors into new exciting technologies for the growth of companies in the Region and their own personal portfolio.
CONTACT: David Weaver City Side Ventures LLC at mailto:dweaver@citysideventures.com