FM Angel Investment Fund
Service Provider in Fargo, North Dakota
The Center for Innovation worked with groups of angel investors in Grand Forks, Bismarck and Fargo to form Angel Capital funds affiliated with RAIN Source Capital of St Paul. MN www.rainsourcecapital.com. The Valley Angel Investment Fund, LLC in Grand Forks, N.D; the Northern Plains Investment LLC of Bismarck-Mandan, and the FM Angel Investment Fund LLC of Fargo are initially capitalized at more than $500,000 with plans to expand up to $1.5 million. The three Angel funds will invest primarily in early- to mid-stage private companies with high growth potential that are located in North Dakota and Minnesota, and other regions where the investors reside. “These new Angel Fund supports both business and investor growth,” said Steve Mercil, president and CEO of Minnesota-based RAIN Source Capital. “Our goal is to form one RAIN fund a month ~ as a way to increase the capacity for equity investments in smaller more rural areas. We are extremely excited to be working with business leaders and angel investors in this community, given the region’s innovation and strong work ethic.” RAIN stands for Rural Accredited Investor Network (RAIN).