Boise Angel Alliance and Loon Creek Capital have formed their third angel fund, known as The Capitol City Angel Fund, to bring together investors and local startup entrepreneurs, the Idaho Press-Tribune reports
The first angel fund was created in 2007 and raised $1.3 million in funds. The second fund also raised $1.3 million.
“One of the big barriers to people doing private investing is the lack of expertise to get that good deal,” Denise Dunlap, principal of Loon Creek Capital, told the Press-Tribune
According to Dunlap, investors are looking for companies that will be sustainable and have potential for profit. They also look to the management team, searching for motivated individuals.
This fund was created in February 2014 and is actively investing.