MIDLAND ? Michigan has yet another angel investing group, the Blue Water Angels, which has more than $1 million to invest in promising Michigan start ups.
Blue Water Angels works closely with the MidMichigan Innovation Center. At the Feb. 12 meeting, the groups first board was elected.
Brent Case, executive director of the MidMichigan Innovation Center, will coordinate interaction between investors and promising companies.
?MMIC got involved in establishing an angel investment network because capital was always the top issue facing our tenant companies,? Case said. ?Having the BlueWater Angels in our backyard makes helping current tenant companies and attracting new companies to the region more feasible. Now mid-Michigan companies do not have to go out of state or to other regions in Michigan to secure capital.?
Chairman – Arnold Allemang (Midland County)
President – Ken Kousky (Leelanau and Saginaw Counties)
Secretary/Treasurer – Paul Murray (Isabella County)
Administrator – MidMichigan Innovation Center
Remaining board members:
Ron Beebee – Bay County
John Bartos – Midland County
Ted Skinner – Midland County
John Strobel – Saginaw County
In addition to elections, the Blue Water Angels heard presentations from two companies interested in securing investment for their innovative Michigan-based businesses:
Cerise Nutraceuticals ? A Traverse City-based company committed to creating and offering affordable, high quality, life enhancing, natural products from cherries and kalaya oil that will contribute to the health, wellbeing, and quality of life.
Natural Therapeutics ? An Ann Arbor-based company dedicated to the development of naturally occurring bio-active compounds identified in safe botanicals.
The Blue Water Angels are interested in both opportunities and are in the due diligence process to determine if investment into the company is indeed viable. The process includes extensive background checks and research to ensure the technology, market, and management team are worthy of investment.
The Blue Water Angels will be holding six dinner/investment opportunity review meetings during 2008, along with one educational event, an annual meeting and three additional board meetings. Membership is based on application, and includes a select group of high net worth individuals and organizations interested in investing capital in promising companies with the expectation of receiving a substantial return on their investment(s).
The next dinner/investment opportunity review meeting is scheduled for late March, and applications for consideration are due by March 7.
Entrepreneurs seeking investment may apply at MidMichiganInnovationCenter
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