Center for Innovative Technology
Virginia Venture Calendar
February 2010
CIT's Monthly Digest of Regional, Early-Stage Financing Events, Deadlines and News for Virginia's High-Tech Companies
For suggestions, corrections, and comments please contact Jennifer O'Daniel at jodaniel@cit.org or 703.689.3073.
Happy Entrepreneurship Week!!
Virginia Governor Bob McDonnell officially recognized the week of February 20, 2010 as Entrepreneur Week in the Commonwealth of Virginia.  According to the Department of Commerce, more than 2,300 people become independent entrepreneurs daily, joining more that 20 million self-employed, that make up fore than 75% of the nation's 26 million plus business firms nationwide.  View the official document at: http://www.dba.state.va.us/documents/EntrepreneurshipWkProclamation2010.pdf
 
In the February 2010 Issue:
News
Events
Virginia Angel Groups
Out-of-State Angel Groups
CIT GAP Funds

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News:

Alawar Entertainment, an Alexandria, VA-based provider of casual games, closed a $3M round from Almaz Capital Partners.

 

StraighterLine, an Alexandria, VA-based provider of online education services, raised $1.2M from an undisclosed venture investor. 

Events:
 
Southeast Venture Conference 2010 - 2/24 - 2/25
The fourth annual Southeast Venture Conference will feature market relevant investor and executive panels, exclusive networking opportunities, featured speakers and dozens of the region's top private technology firms presenting to a national audience of venture capitalists, investment bankers and private equity investors.  For more information visit http://www.seventure.org.
 
Capital Call - 3/3
Cooley Godward Kronish hosts Capital Call.  The event will feature six of the hottest growth companies over lunch.  Presenting companies include: Cardagin Networks, Cut2IT, DealPal, Maxtena, MyGov.com, and Optoro.  Invitation only event.  To apply to present at the next capital call, send executive summaries to cgrant@cooley.com.  Accredited investors that would like to attend and did not receive an invitation, contact Carl Grant at cgrant@cooley.com.
 
Accounting Compliance and QuickBooks Set-up - 3/11
Geared toward entrepreneurs with Federal business.  For more information visit http://www.cit.org/events.
 
Meet the Capital Players - 3/16
NVTC hosts "Win Win" M&A in a Tough Market.  Tom Dailey from IXI and WIll Dunbar from Core Capital share their experiences on IXI being acquired by Equifax.  For more information visit http://www.nvtc.org. 
 
RichTech Women in Technology - 3/16
Details to be announced.  For more information visit http://www.richtech.com.
 
For information about Federal Funding events, please visit: http://www.cit.org/events. 
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Virginia Angel Investor Groups:

Active Angel Investors - Vienna, VA.  Active Angel Investors (AAI) invests in early-stage and expansion stage companies in the following sectors: business products and services, computers and peripherals, consumer products and services, financial services, IT services, media and entertainment, medical devices and equipment, and software.  AAI prefers to invest within a four-hour drive of Washington, DC.  For more information visit: http://www.newvantagegroup.com.

 
D'Arch Angels - Vienna, VA.  D'Arch Angels invests in early-stage and expansion stage companies in the following sectors: military and intelligence.  D'Arch Angels prefers to invest within a four-hour drive of Washington, DC.  For more information visit: http://www.newvantagegroup.com.
 
Jefferson Corner Group - Charlottesville, VA. Jefferson Corner Group invests in seed and start up stage companies in technologies industry. For consideration, contact Andrea Alms at andrea@spinnertech.com or 434.982.0852.
 
LaunchBox Digital - Washington, DC.  LaunchBox Digital is an early stage investment firm located in Washington, D.C., is focused on helping entrepreneurs get through those challenging early days by bringing capital, advice, and practical guidance to help early stage businesses succeed.  For more information visit:  http://www.launchboxdigital.com.
 
The Wedgwood Circle, LLC - Washington, DC.  The Wedgwood Circle invests in seed and start up stage companies in the following sectors: film, music, television, publishing, theatre/performing, fashion, fine arts and computer/console gaming. Invests nationally. For consideration, contact Mark Rodgers at markr@claphamgroup.com.
 
Space Angels Network - Leesburg, VA
Space Angels Network is the premier source of aerospace dealflow for investors and of early-stage capital for aerospace-related ventures across a wide spectrum of technologies, markets, and industries. They are a professionally managed national network of accredited investors focused on aerospace-related opportunities.  For more information visit: www.spaceangelsnetwork.com. 
  
Virginia Active Angel Network - Blacksburg, Charlottesville, Richmond, VA.  Virginia Active Angel Network invests in Seed & Start-up and early stage companies in the following sectors: biotechnology, consumer products and services, electronics/instrumentation, industrial/energy, media and entertainment, medical devices and equipment and telecommunications. Virginia Active Angel Network prefers to invest within a four hour drive of Charlottesville and Blacksburg. For consideration, contact Richard Crawford info@VirginiaActiveAngelNetwork.com or 434-409-3383.
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Out-of-State Angel Investor Groups:
 
Angel Healthcare Investors - Newton, MA.  Angel Healthcare Investors, LLC invests in seed and start up stage, early-stage and expansion stage companies primarily with a direct healthcare or life science application that are located in the Northeast. Their primary sectors of focus include: biotechnology, healthcare services, medical devices and equipment, healthcare IT and specialty hedge and private equity funds. Occasionally, Angel Healthcare may consider opportunities outside the healthcare industry or located outside New England. For investment consideration, contact Geoff Maletta at maletta@hcangels.com or 617.630.0777.
 
Angel Investor Forum - Glastonbury, CT.  The Angel Investor Forum invests in both seed and start up stage, and early-stage and expansion stage companies, with no designated industry preference. Angel Investment Forum has a focus on Connecticut companies. For investment consideration, contact Reginald Babcock at rbabcock14@aol.com or 860.430.1257.
 
Atlanta Technology Angels - Atlanta, GA.  The Atlanta Technology Angels (ATA) invests in seed and start up stage, early-stage and expansion stage technology companies in the following sectors: Computers and peripherals, electronics and instrumentation, financial services, IT services, Semiconductors, software, telecommunications. ATA prefers to invest in companies located in Georgia. For consideration, contact Knox Massey at knox.massey@angelatlanta.com or 404.526.6039.
 
Bay Angels - Waquoit, MA.  Bay Angels invest in seed and start up stage companies in the following sectors: biotechnology, business products and services, computers and peripherals, consumer products and services, electronics/instrumentation, financial services, industrial/energy, media and entertainment, medical devices and equipment, networking and equipment and semiconductors. Bay Angels prefer to invest in Cape Cod and the Islands, Southeastern Massachusetts and Rhode Island, although not restricted to that region. Generally, a two-hour drive of Cape Cod. For consideration, contact Robert Lamkin at lamkin@tvm-captial.com or 508-299-8341.
 
Beacon Angels- Boston, MA.  Beacon Angels invest in seed and start up stage companies in the following sectors: business products and services, computers and peripherals, consumer products and services, electronics/instrumentation, medical devices and equipment, networking and equipment, retail/distribution, semiconductors, software and telecommunications. Beacon Angels prefer to invest in the New England States. For consideration, contact William F. Swiggart at wfs@swiggartagin.com or 617.742.0110 x201.
 
Blue Ridge Angel Investment Network - Asheville, NC.  Blue Ridge Angel Investment Network invests in seed and start-up stage and early stage companies within a two-hour drive of Asheville, NC. There are no restrictions on industries. 
 
Blue Tree Allied Angels - Wexford, PA.  Blue Tree Allied Angels invests in seed and start up stage, early-stage and expansion stage companies in the following sectors: healthcare services, industrial/energy, IT services, medical devices and equipment, networking and equipment, and software. Blue Tree Allied Angels prefers to invest within an hour drive from Wexford. For consideration, contact Catherine Mott at cvmott@bluetreecapital.com or 724.699.1076.
 
Boston Harbor Angels - Boston, MA.  Boston Harbor Angels invest in early stage (prototype or customers) companies in the following sectors: consumer products and services, electronics/instrumentation, financial services, healthcare services, industrial/energy, IT services, media and entertainment, medical devices and equipment, networking and equipment, retail/distribution, semiconductors and software. Boston Harbor Angels prefer to invest in New England but have no geographic restrictions. For consideration, contact Michael Williams at mic@bostonharborangels.com or 617.742.7887.
 
Business Utility Angels - New York, New York.  Business Utility Angels invest in and start up stage, early-stage and expansion stage companies in the following sectors: business products and services, IT services and software. Business Utility Angels prefer to invest within the region. For consideration, contact Elizabeth Eiss at Elizabeth@michaelsmith.biz or 847.420.4708.
 
Charleston Angel Partners - Charleston, SC.  Charleston Angel Partners (CHAP) invest in seed and start up stage companies in the following sectors: biotechnology, business products and services, computers and peripherals, consumer products and services, electronics/instrumentation, healthcare services, industrial/energy, IT services, medical devices and equipment, networking and equipment, semiconductors, software and telecommunications. CHAP prefers to invest in the southeastern US. For consideration, contact Ken Roozen at roozen@charlestonangelpartners.com or 843.768.7408.
 
Chattanooga Technology Council - Chattanooga, TN.  The Chattanooga Technology Council, Inc. (CTC) is a non-profit organization devoted to promoting the growth of technology businesses and education throughout the greater Chattanooga area. Membership is open to individuals, companies, non-profit institutions, education facilities, and other organizations that are interested in supporting the growth of technology in Chattanooga. For more information- contact Kelley Evatt at kevatt@chatc.org or 423.209.6831.
 
CommonAngels - Boston, MA.  CommonAngels invests in early stage companies in the following sectors: software, semiconductors, computers and peripherals and telecommunications. CommonAngels prefers to invest within a two hour drive of Boston. For consideration, contact James Geshwiler at james@commonangels.com or 781.274.9124.
 
Connecticut Angel Guild - Fairfield, CT.  Connecticut Angel Guild invest in seed, start-up and early stage companies in the following sectors: biotechnology, business products and services, computers and peripherals, consumer products and services, electronics/instrumentation, financial services, healthcare services, industrial/energy, IT services, media and entertainment, medical devices and equipment, networking and equipment, retail/distribution, semiconductors, software and telecommunications. Connecticut Angel Guild prefers to invest within a two-hour drive of Fairfield. For consideration, contact Mike Roer at roer@cvg.com or 203.256.5955.
 
Dutchess County Angel Network - Poughkeepsie, NY.  Dutchess County Angel Network invests in early stage and expansion stage companies in the following sectors: biotechnology, business products and services, computers and peripherals,  electronics/instrumentation, industrial/energy, media and entertainment, medical devices and equipment, networking and equipment, and semiconductors. Dutchess County Angel Network prefers to invest in Duchess County. For consideration, contact Thea Glaser at thea@dcedc.com or 845-463-5415.
 
eCoast Angels - Portsmouth, NH.  eCoast Angels invests in seed and start-up companies in both high and low tech sectors. eCoast Angels prefers to invest within a two hour drive from Portsmouth, with some exceptions. For consideration, contact Myles Archer at ecoastangels@comcast.net or 603.766.6125.
 
Emergent Growth Fund LLC - Gainesville, FL. 
Emergent Growth Fund invests in start-up stage and early stage companies in the biotechnology and high technology sectors. Emergent Growth Fund prefers to invest in companies based in Florida, but will consider others based in the southeast region. Strong interest in companies developing technology licensed from the University of Florida. For consideration, contact Lee May at bellamay1@gmail.com or 904.686.0293.
 
Golden Seeds, LLC - New York, NY; Stamford, CT; Boston, MA. Golden Seeds invests in and start up stage, early-stage and expansion stage and later stage companies in the following sectors: biotechnology, business products and services, consumer products and services, electronics/instrumentation, financial services, healthcare services, industrial/energy, IT services, media and entertainment, medical devices and equipment, networking and equipment and software. Golden Seeds has no restriction on geographic location. For consideration, contact Stephanie Hanbury-Brown at shb@goldenseeds.com or 203.698.4914.
 
Granite State Angels - Hanover, MA.  Granite State Angels invests in all stages and has no restrictions on industry. For consideration, contact Fred Wainwright at fred.wainwright@dartmouth.edu or 603.646.0107.
 
Inception Micro Angel Fund - Winston- Salem, NC.  Inception Micro Angel Fund (IMAF) invests in seed and start-up companies in the following sectors: biotechnology, healthcare services, medical devices and equipment and telecommunications. IMAF prefers to invest within a 100 mile radius of Winston-Salem, NC. For consideration, contact Timothy R. Janke at tjanke@imaftriad.com.
 
Investors' Circle - San Francisco, CA; Boston, Massachusetts.  Investors' Circle invests in early stage, expansion, seed and start up companies in the following sectors: business products and services, consumer products and services, healthcare services, industrial/energy, media and entertainment, medical devices and equipment, retail/distribution, and for-profit social enterprise in: energy and environment, food and organics, media and education, healthcare, community and international development, and women and minority-owned. Investors' Circle has no geographical restrictions on investing. For consideration, contact Michael Bartner at mbartner@investorscircle.net or 617.566.2600.
 
IrishAngels - Notre Dame, IN.  The IrishAngels network comprises a select group of Notre Dame alumni and friends who are experienced in entrepreneurial endeavors and interested in supporting new venture development.  For more information visit: http://www.business.nd.edu.
 
Jumpstart New Jersey Angel Network - Princeton, NJ.  Jumpstart invests in seed, start-up stage and early-stage technology companies in the Mid-Atlantic region in the following sectors: biotechnology, business products and services, computers and peripherals, electronics/instrumentation, financial services, healthcare services, industrial/energy, IT services, medical devices and equipment, networking and equipment, semiconductors, software and telecommunications. For consideration, contact Katherine O'Neill at koneill@jumpstartnj.com or 856.813.1440.
 
Launchpad Venture Group - Wellesley, MA.  Launchpad invests in seed and start up companies in the following sectors: business products and services, computers and peripherals, consumer products and services,  electronics/instrumentation, healthcare services, IT services, medical devices and equipment, semiconductors and software. Launchpad prefers to invest within a two-hour drive from Boston. For consideration, contact Hambleton Lord at info@launchpadventuregroup.com.
 
Long Island Angel Network - Long Island, NY.  Long Island Angel Network invests in seed and start up stage and early stage companies. No preference on industry, but prefer the technology sector. Prefer to invest in Long Island or companies willing to move to Long Island; NY Metropolitan area for co-investments. For consideration, contact Ann-Marie Scheidt at annmarie.scheidt@stonybrook.edu or 631.632.7006.

LORE Associates - Radnor, PA.  LORE Associates invests within a two-hour drive of Southeastern Pennsylvania. For consideration, contact Bill Moore verus@tpinv.com or 610.964.8452.
 
Minority Angel Investment Network - Philadelphia, PA.  Minority Angel Investment Network invests in seed and start up stage companies in technology, but will consider other high growth opportunities. Prefers to invest within a four-hour drive of Philadelphia. For consideration, contact Terrence Hicks at terry@sep.benfranklin.org or 215.972.6700 x3799
 
New World Angels Incorporated - Boca Raton, FL.  New World Angels Incorporated (NWA) invests in pre-revenue or early revenue stage companies (but will consider some seed / start-up and later stage deals) in the following sectors: biotechnology, business products and services, computers and peripherals, consumer products and services, electronics/instrumentation, financial services, healthcare services, IT services, media and entertainment, medical devices and equipment, networking and equipment, software and telecommunications. Prefer to invest in firms having a significant Florida presence, with a preference for management teams based in Southeast Florida. For consideration, contact Rhys Williams at  rhyswilliams@newworldangels.com or 561.620.8494 x15.
 
North Country Angels - Montpelier, VT.  North Country Angels prefers to invest in the New England states, and has no preference for stage or industry. For consideration, contact Fred Wainwright at fred.wainwright@dartmouth.edu or 603.646.0107.
 
Orange County Angel Network - Goshen, NY.  Orange County Angel Network invests in seed and start up companies in the following industries: business products and services, consumer products and services, electronics/instrumentation, medical devices and equipment and software. Prefer to invest only within New York. For consideration, contact Robert Hannan at rhannan@orangecountycapital.com or 845-294-4295.
 
Pennsylvania Angel Network - Harrisburg, PA.  The mission of PAN is to provide resources and support to angel investment groups throughout the Commonwealth of Pennsylvania. The organization believes that providing support to angel groups will improve the overall investment environment for angel investors and increase the number of investors and investment dollars in Pennsylvania and thus support economic development in Pennsylvania. PAN invests in seed and start-up stage, early stage, expansion stage and later stage companies. For consideration, contact Valerie S. Gaydos at Valerie@paangelnetwork.com or 717.238.1222.
 
Piedmont Angel Network - Greensboro, NC.  Piedmont Angel Network (PAN) invests in seed and start up stage and early stage companies in the following sectors biotechnology, computers and peripherals, consumer products and services, financial services, industrial/energy, media and entertainment, medical devices and equipment, networking and equipment, software and telecommunications. PAN prefers to invest within a four-hour drive of Greensboro. For consideration, contact Lou Anne Flanders-Stec at lafstec@piedmontangelnetwork.com or 336-235-0941.
 
Robin Hood Ventures - Wayne, PA.  Robin Hood Ventures invests in early stage companies in the following sectors: biotechnology, business products and services, computers and peripherals, electronics/instrumentation, financial services, health care services, industrial/energy, IT services, medical devices and equipment, networking and equipment and software. Prefers to invest within a two hour drive of Philadelphia. For consideration, contact Ellen Weber at  eweber@robinhoodventures.com or 610.993.9060.
 
Rochester Angel Network -Rochester, NY.  Rochester Angel Network invests in seed and start-up stage and early stage companies with a preference for deals in Rochester, NY region and upstate NY (but nothing prohibits investment deals elsewhere). For consideration, contact James Senall at james@greaterrochesterenterprise.com or 585.530.6209.
 
Springboard Capital - Jacksonville, FL.  Springboard Capital invests in seed and early-stage companies in the following sectors: business products and services, medical devices, products and services, IT and software, consumer products and retail, business and financial services. Prefers to invest in the Southeast. For consideration, contact Alan Rossiter at rossiter@springboardcapllc.com or 904.861.2400.
 
Tri-State Ventures - New York, NY.  For consideration, contact Steve Nagler at snagler@evw.com or 212-561-3611.
 
Triangle Accredited Capital Forum-Wake Forest, NC.  Triangle Accredited Capital Forum invests in seed and start up stage companies in the following sectors: biotechnology, computers and peripherals, medical devices and equipment, networking and equipment, semiconductors and software. Prefer to invest in Central North Carolina. For consideration, contact Bill Warner at paladin@paladinandassociates.com or 919.570.1023.
 
Wilmington Investment Network - Wilmington, NC.  Wilmington Investor Network prefers to invest in seed and start up and early stage companies in the following sectors: biotechnology, business products and services, electronics, medical devices and equipment. Prefers to invest in the southeastern US region. For consideration, contact Michael Cain at mgcain@wilmingtoninvestor.com or 910.538.6641.