Home
News
A Nevada County investment group has been formed with the goal of starting businesses here with local money and mentors.
Members of the Angel Investment Group also hope to draw promising young graduates back to Nevada County.
Investors created the group within the Nevada County Economic Resource Council over the past five months.
“It's an equity investment group,” said member Gary Law. “It's not a loan fund. Investors would be getting a part of the ownership.”
They would put their money into the ideas and firms they like — hence the “angel.”
“There's no bank account,” said ERC President and CEO Gil Mathew. “For instance, one guy could say, “I'm in for $10,000,” while others might pass on the idea.
“It's really a group of individuals who would invest in whatever they like,” Law said.
“Everybody does their own investments,” either alone or with other group members.
Potential entrepreneurs would come to the table with business plans and outline their need for start-up capital, member Bob Bogart added.
“I'm looking for some good investment opportunities,” Law said. “It's not low-risk, and it's not for everybody.”
“We want to get more businesses moving into town,” Bogart said. “We've already found out about a lot of start-ups, and we know of existing firms that could be helped.”
“It's a great time for a new company to get started,” Law said. “Facilities are inexpensive, and there's a lot of talent out there. The economy may be down, but that doesn't mean it won't improve.”
Those who can start now and survive will be poised for an economic rebound, Law said. “You look at the last recession, back in the ‘80s, that's when Silicon Valley companies like Apple and Cisco started,” Law said.
Group members also plan to mentor the firms they invest in, Mathew said.
“They would help you raise capital, manage a business, learn accounting practices and teach things like how to build a board of directors,” Mathew said.
Mathew also wants to link the Angel Investment Group in with the ERC's Nevada County New Business Network.
“It's the Bringing Them Home campaign,” Mathew said. “We're identifying Bear River, Nevada Union and Truckee high school graduates with advanced degrees and inviting them to build businesses here,” Mathew said. “Early-stage companies need a venture or angel fund, and we want to be ready. We can bring them back and set them up.”
While the group will do face-to-face conversations with potential business starters, “We have no office, no phone,” Bogart said. Much of the group's communication is being done through its Web site and e-mail address.
For more information, visit NevadaCountyAngelinvestments.com or e-mail info@nevadacountyangel investments.com.
To contact Senior Staff Writer Dave Moller, e-mail dmoller@theunion.com or call 477-4237.
Members of the Angel Investment Group also hope to draw promising young graduates back to Nevada County.
Investors created the group within the Nevada County Economic Resource Council over the past five months.
“It's an equity investment group,” said member Gary Law. “It's not a loan fund. Investors would be getting a part of the ownership.”
They would put their money into the ideas and firms they like — hence the “angel.”
“There's no bank account,” said ERC President and CEO Gil Mathew. “For instance, one guy could say, “I'm in for $10,000,” while others might pass on the idea.
“It's really a group of individuals who would invest in whatever they like,” Law said.
“Everybody does their own investments,” either alone or with other group members.
Potential entrepreneurs would come to the table with business plans and outline their need for start-up capital, member Bob Bogart added.
“I'm looking for some good investment opportunities,” Law said. “It's not low-risk, and it's not for everybody.”
“We want to get more businesses moving into town,” Bogart said. “We've already found out about a lot of start-ups, and we know of existing firms that could be helped.”
“It's a great time for a new company to get started,” Law said. “Facilities are inexpensive, and there's a lot of talent out there. The economy may be down, but that doesn't mean it won't improve.”
Those who can start now and survive will be poised for an economic rebound, Law said. “You look at the last recession, back in the ‘80s, that's when Silicon Valley companies like Apple and Cisco started,” Law said.
Group members also plan to mentor the firms they invest in, Mathew said.
“They would help you raise capital, manage a business, learn accounting practices and teach things like how to build a board of directors,” Mathew said.
Mathew also wants to link the Angel Investment Group in with the ERC's Nevada County New Business Network.
“It's the Bringing Them Home campaign,” Mathew said. “We're identifying Bear River, Nevada Union and Truckee high school graduates with advanced degrees and inviting them to build businesses here,” Mathew said. “Early-stage companies need a venture or angel fund, and we want to be ready. We can bring them back and set them up.”
While the group will do face-to-face conversations with potential business starters, “We have no office, no phone,” Bogart said. Much of the group's communication is being done through its Web site and e-mail address.
For more information, visit NevadaCountyAngelinvestments.com or e-mail info@nevadacountyangel investments.com.
To contact Senior Staff Writer Dave Moller, e-mail dmoller@theunion.com or call 477-4237.
