Unique Group Launches First Minnesota-Based Angel Investment Fund
Twin Cities Angels to Provide Investment Capital for Regional Early-stage Companies

MINNEAPOLIS, (May 12, 2006) – Twin Cities Angels, LLC (“TCA”) today announced its formation as a member owned and managed fund for investing in early and seed stage companies with superior potential in the greater Twin Cities area.  Angel investments are defined as financial investments by individual investors or groups of investors who organize themselves to share information and pool investment capital.

Twin Cities Angels is a formal organization for entrepreneurially-minded angel-investors.  TCA members are referred by other members, joining due to a mutual interest in having a high degree of personal involvement and interaction in angel investing.  All members are accredited investors with significant industry or functional expertise to contribute to the group. 

“There is such great need for this type of organization in the Midwest,” said Jeff Hinch, president, MN Venture Capital Association. “This fund can help lead the way in leveraging regional resources to provide the capital needed for Minnesota’s technology sectors to grow.”

TCA is principally interested in relatively early-stage companies where the organization’s members can lead or participate in the formative stages of a successful business.  Based on their individual and collective expertise, TCA members are also committed to the organization’s mission of mentoring new companies by sharing their successful work experience and proven business judgment.  TCA’s investment and market focus is based on the members’ professional expertise, including medical technology: devices, diagnostics, pharmaceuticals, biotech, veterinary medicine; and Information Technology: software, hardware, and IT services.

“The ultimate goal of fostering the development and growth of the area’s technology-based start-ups – making Minnesota a national leader in this arena,” said John Alexander, founder and chairman of Twin Cities Angels.  “We consider this the ultimate collaborative experience.  Our members are sharing their vast professional knowledge, while we in turn, learn how to conduct intensive research, quality due diligence, and make the most intelligent investments.”

TCA seeks deal flow in the greater Twin Cities Area of Minneapolis/St. Paul, the state of Minnesota and within a reasonable distance of the Twin Cities in Wisconsin, Iowa, and the Dakotas. Members are educated in desirable investment skills: how to perform due diligence, deal flow creation, legal aspects of investing, term sheet key terms, the venture industry, technologies and other areas of specific interest to angel investors. 

The membership-lead organization convenes regularly to meet with pre-screened companies regarding potential investments.  There will be no salaried members or those with special carried interest in invested deals and the full membership will be active in deal development, voting on all investment decisions.    

More information about the Twin Cities Angels is available at www.TCAngels.com.

Contact:    
John Alexander, Chairman
(612) 377-5825

© Copyright 2006 Twin Cities Angels