Wednesday, June 18, 2008

TAN News

TacomaAngel Network Celebrates 2nd Anniversary. Expands Regional Investing. Honors John Hughes, Former Screening Committee Head.

Photograph by Emily Noel

At the TacomaAngel Network (TAN) Members 2nd Anniversary Meeting last week, John Hughes, President of Tolt Group, and advisor to TAN, was presented an award of merit for his service as retiring Chair of the Company Screening Committee, by TAN Co- Chairs, Larry Kopp and John B. Dimmer. Hughes, who will stay on the committee, has been replaced as chair by Bjorne Hansen of Browns Point who is also a Director of TAN. Hughes has been with TAN since its inception.

The Screening Committee vets all companies to come before the membership. Under Hughes’ chairmanship, the committee’s efforts brought to the members over 50 companies during the past 18 months, which required the screening of over 200 firms. To better support this effort, over the past 90 days, TAN has also expanded its formal and informal relationships with other angel groups in the region for deal sourcing and joint investing, including the Alliance of Angels in Seattle, the Puget Sound Venture Club, Bellingham Angels, and the Vancouver Angel Forum of BC.

At the same meeting Kopp announced membership solidly passing a landmark 40 members, up 1/3rd from the first anniversary. All members must be accredited investors under Securities and Exchange Commission definitions.

Individual members were commended for introducing over 35 new members, as was C.R. Roberts of the Tacoma News Tribune, for his series of articles on TAN.

Additionally, the membership saw timed presentations from four Pacific NorthWest companies—two medical systems companies, each operating under medical IP (intellectual property) licensed from the University of Washington respectively for drug delivery and nanotechnology for use with implantable devices. Other companies included a laser guided clean room for bottling pharmaceutical products from British Columbia, and another wireless company from Seattle with a “text-a-day” cell phone subscription product for “word of the day” and recurrent donation programs.

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