Best of the Best Coming to Tacoma

Larry Kopp, co-founder of the TacomaAngel Network reports on his recent sighting about Bill Payne, one of the principal presenters in TAN's upcoming Deal Doing Seminar.

Larry says, "Bill Payne, the moderator for TAN’s Business Development and Deal Doing Seminar was quoted this week in an article in the New York Times…Giving Businesses their Wings.

'….Many states offer tax incentives for investing in small businesses in their own state ..[of up to 100% over 5 years] For a list, go to angelcapitalassociation.org, click on Resources and look for state policy issues. [Washington State is NOT one of those states].

Indeed, supporting local economic development is one reason that angels often cite for their interest in this type of investing. “When you are a venture capitalist, and you are investing other people’s money, return on investment had better be your only motivation,” said Bill Payne, a founding member of angel investor groups in Montana and Nevada. “But angel investors are often motivated by other considerations, such as mentoring young entrepreneurs and giving back to the community.'

Payne has been an angel investor since the early 1980s, when he sold his company, Solid State Dielectrics, to DuPont. His interest in fostering local economic development led him to start the Frontier Angel Fund three years ago in Kalispell, Mont. The fund’s 33 members each put in $50,000, and they vote on each proposed investment.

Many of the 300 or so angel investor groups in the United States function almost like social clubs. If enough members decide to invest in a particular company, they often form a limited liability corporation and appoint one member to become the principal contact with the entrepreneur. If only a few members are interested in a deal, they are free to invest on their own."

Thanks Larry, for catching this info.