New N.C.-based Venture Capital Partnership Software Creating New Online Learning Networks
IDEA Fund Partners is New Source of Venture Capital For Early Stage Companies
Research Triangle Park, NC, May 11, 2007 --(PR.com)-- IDEA Fund Partners, a new venture capital partnership targeting investment in seed and early stage companies, announced today an initial closing for its inaugural fund, IDEA Fund I.
IDEA Fund I will primarily focus on North Carolina-based companies and will begin operations immediately. Typical initial investments of up to $1 million will target information technology, material sciences, and medical device companies.
IDEA Fund Partners is a new venture organization founded by the investment team of NC IDEA, a non-profit dedicated to helping create new North Carolina companies and jobs. The team has been investing together for more than four years, managing investments in 12 portfolio companies.
IDEA Fund Partners is actively seeking investments for the fund, which is targeting a final close of up to $25 million from both individual and institutional investors.
“We are pleased that our investors realized the opportunity and potential of providing a bridge between angel investors and larger venture capital funds,” said David Rizzo, managing partner of IDEA Fund Partners and CEO of NC IDEA. “There is a lack of available capital for seed and early-stage deals in North Carolina. We will continue to leverage relationships across the state and region to develop a network of limited partners.”
Carlos Parajon, an angel investor based in Wilmington, expects the angel investment community to embrace IDEA Fund Partners. “It is a great time for early-stage investments, and this new fund will provide an opportunity for angel investors to actively participate in company growth. I know many angel investors are looking forward to having a strong investment team scout for new opportunities and provide strong due diligence. I look forward to working with the IDEA Fund Partners investment team to help entrepreneurs create new companies,” said Parajon.
“IDEA Fund Partners is addressing a critical funding need not being fully addressed in North Carolina,” said William Neal, chairman of the Board of Directors of NC IDEA, an investor in IDEA Fund I. “We see a tremendous opportunity to accelerate the development of young companies through our investment with IDEA Fund Partners.”
“This new source of seed and early-stage funding is what North Carolina needs to leverage our wealth of innovative research and entrepreneurial strength,” said Monica Doss, president and CEO of North Carolina’s Council for Entrepreneurial Development (CED), the largest entrepreneurial support organization in the nation. “Each member of the IDEA Fund Partners team has hands-on experience that enables them to work closely with portfolio companies. The team’s experience and breadth of business knowledge has already proven to be a tremendous advantage for entrepreneurs and early-stage companies.”
Ryan Allis, CEO of Broadwick, the initial portfolio investment of IDEA Fund I, has directly experienced the benefits of working with the investment team. “The entire investment team does more than simply write a check. They draw upon their experience and extensive network of contacts to provide the right mix of strategic insight, advice and hands-on assistance,” said Allis.
About IDEA Fund Partners
IDEA Fund Partners provides equity financing and company building expertise to seed and early stage IT, materials technologies, and medical device companies. Located in North Carolina’s Research Triangle Park, the firm works with companies in North Carolina as well as the Southeast and Mid-Atlantic regions.
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IDEA Fund I will primarily focus on North Carolina-based companies and will begin operations immediately. Typical initial investments of up to $1 million will target information technology, material sciences, and medical device companies.
IDEA Fund Partners is a new venture organization founded by the investment team of NC IDEA, a non-profit dedicated to helping create new North Carolina companies and jobs. The team has been investing together for more than four years, managing investments in 12 portfolio companies.
IDEA Fund Partners is actively seeking investments for the fund, which is targeting a final close of up to $25 million from both individual and institutional investors.
“We are pleased that our investors realized the opportunity and potential of providing a bridge between angel investors and larger venture capital funds,” said David Rizzo, managing partner of IDEA Fund Partners and CEO of NC IDEA. “There is a lack of available capital for seed and early-stage deals in North Carolina. We will continue to leverage relationships across the state and region to develop a network of limited partners.”
Carlos Parajon, an angel investor based in Wilmington, expects the angel investment community to embrace IDEA Fund Partners. “It is a great time for early-stage investments, and this new fund will provide an opportunity for angel investors to actively participate in company growth. I know many angel investors are looking forward to having a strong investment team scout for new opportunities and provide strong due diligence. I look forward to working with the IDEA Fund Partners investment team to help entrepreneurs create new companies,” said Parajon.
“IDEA Fund Partners is addressing a critical funding need not being fully addressed in North Carolina,” said William Neal, chairman of the Board of Directors of NC IDEA, an investor in IDEA Fund I. “We see a tremendous opportunity to accelerate the development of young companies through our investment with IDEA Fund Partners.”
“This new source of seed and early-stage funding is what North Carolina needs to leverage our wealth of innovative research and entrepreneurial strength,” said Monica Doss, president and CEO of North Carolina’s Council for Entrepreneurial Development (CED), the largest entrepreneurial support organization in the nation. “Each member of the IDEA Fund Partners team has hands-on experience that enables them to work closely with portfolio companies. The team’s experience and breadth of business knowledge has already proven to be a tremendous advantage for entrepreneurs and early-stage companies.”
Ryan Allis, CEO of Broadwick, the initial portfolio investment of IDEA Fund I, has directly experienced the benefits of working with the investment team. “The entire investment team does more than simply write a check. They draw upon their experience and extensive network of contacts to provide the right mix of strategic insight, advice and hands-on assistance,” said Allis.
About IDEA Fund Partners
IDEA Fund Partners provides equity financing and company building expertise to seed and early stage IT, materials technologies, and medical device companies. Located in North Carolina’s Research Triangle Park, the firm works with companies in North Carolina as well as the Southeast and Mid-Atlantic regions.
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Contact
NC IDEA
Heather Hefner
919-341-0655
www.ncidea.org
Heather Hefner
919-341-0655
www.ncidea.org
Contact
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