Giving Businesses Their Wings – Frontier Angel Fund

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.”

Mr. 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 http://frontierangels.com/ three years ago in Kalispell, Mont. The fund’s 33 members each put in $50,000, and they vote on each proposed investment.

By J. ALEX TARQUINIO

Full Story: http://www.nytimes.com/2008/09/10/business/businessspecial3/10INVEST.html?ei=5070&emc=eta1

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Montana Angel Network Initiative Launches in Missoula on 9/25 with “Starting an Angel Organization” Bill Payne, Lead Instructor http://matr.net/article-30504.html