Riverbend Angels, a new angel investment group has launched its operations. Based in the Quad Cities, it will focus on local as well as regional start-up investment opportunities. Their mission is to identify and develop high-potential start-up businesses in the Quad Cities and surrounding region that can create new jobs and contribute to their local economies, all while making a good return for all stakeholders.
Quad-City area business leaders and entrepreneurs Aaron Tennant, Monte Bottens and Tom Trone have formed the group to help close a gap in the local entrepreneurial “eco-system,” specifically providing financial support and coaching to companies that have strong market potential but have yet to attain a sufficient scale to grow.
Riverbend Angels helps build strong foundations for growth for the businesses it invests in – both in their business models and strategies as well as its people. The Riverbend Angels investors will focus on sectors and industries that they know well, ensuring that funding comes with value-added expertise and mentoring.
The group expects that potential investment candidates already must have taken steps to organize their businesses and assemble a success-oriented team. They also must have developed a business model and marketing strategies for its products and/or services to a level that they can be tested and proven in the market.
Angel investors pumped an estimated $25 billion into more than 70,000 startups across the United States last year. Many of these companies are innovative, high-growth firms that create the most new jobs in our economy as well as develop and deliver new products and services that make a difference in people's lives.