SDSU Brookings Angel Fund

A group of angel investors and RAIN Source Capital have formed a new RAIN angel fund, SDSU/Brookings Angel Fund, LLC, in Brookings, S.D. SDSU/Brookings Angel Fund is capitalized at $1,000,000 and has 18 members, including local angel investors and Minnesota-based RAIN Source Capital, which have pooled their investment dollars to create the fund. The fund will invest primarily in regional companies located in Brookings and the tri-state area of South Dakota, Minnesota and Iowa. Duane Sander, retired Dean of SDSU Engineering Department, co-founder of Daktronics and founder of the Enterprise Institute is serving as the fund’s Chair. “The SDSU/Brookings Angel Fund gives entrepreneurs and university-based technologies an opportunity to be connected to capital. RAIN funds will assist in strengthening our region’s equity infrastructure and help foster growth oriented, innovative economic development.” Angel investors, typically defined as individuals with annual income exceeding $200,000 and/or having a net worth of more than $1 million, are often self-made, cashed-out entrepreneurs who have capital and business experience, and are interested in helping other companies to grow. In 2005, angels invested $23.1 billion in 49,500 U.S. businesses.