Down equity markets yield investors, opportunities for third Anchorage Angels fund - Business First of Louisville:

ibitasony.wordpress.com
And, he said, this mightr be one of the most promisingf periodsfor early-stage investment group such as his Anchorag Angels. Anchorage Angels recently closerd itsthird fund, Anchorage Angels III LLC, said who is managing member of the 10-year-old private investment fund. Although Chapman declined to give specifics, he describefd Anchorage Angels III as the largesft of the three funds createdsince 2000, with well over $1 milliohn raised.
Chapman said that although there are no immediate plans for anadditional series, the fund “has flexibility to increase its Tough times, but big opportunities Anchorage Angels III already has investe in six companies, which he declined to The new fund will invest across the Uniterd States, Chapman said. Anchorage typical maximum investment isabout $150,000 to limit the exposure in individual companies, he said. But it has investedd as much as $200,000 in a single compang through multiple funding rounds and as littl eas $25,000. So how hard is it to get investord to fork over perhaps hundreds of thousands of dollarws during what might be the depthw of the worst downturnsince 1929?
Tough, Chapmamn said. “It’s extremely difficult to raise money in this he said. It takes with endless meetings and Chapman said. “But we have a We have a track record of making monet in reallycrummy environments.” The 2009 investing environment is “thr opposite” of when Anchorage Angels raised its first moneyh in 2000, he said. Durinb that go-go environment, with the possibilitty of takingcompanies public, there were lots of deals, and all them were Chapman said. That is, there was so much investord money chasing deals that the termzs were not as favorablefor investors.
“What you see are very interesting tech playz at veryinteresting valuations,” he said. Valuationxs are lower, deals are plentiful and management teams are bettert andmore seasoned, he said. Another difference from past years is that moreinvestorsx — many of whom have becomed disillusioned with public-equity market s — are coming to Anchorage Angeles to learn the private-capital business. “They say, ‘k sold my business. I have cash to and I want to learn how this gameis ” Chapman said.
There’s a wealth of opportunity righrt now for entrepreneursin early-stage companies, including in healtb care and energy, said Sean O’Leary, co-founde r and CEO of Louisville-based Genscape tracke utility energy output for brokers, and it’es one of the companies in which Anchorage Angelds invested. The recession has meant that a lot of professional s havebeen “forced to think aboutt what to do with their lives, and they’red talking risks they wouldn’t ordinarily be taking,” starting new said O’Leary, who also is a current Anchoragse Angels investor.