MINNEAPOLIS, (October 23, 2006) – Twin Cities Angels, LLC (“TCA”) today announced its first investment in an early-stage company.
UnityWorks Media uses proprietary technology to create inexpensive, high-quality streaming video advertisements on the internet with an initial market focus on automotive dealerships. Streaming video ads are placed on the dealer’s own website, on 3rd party websites such as carsoup.com, and embedded into e-mail promotions issued by the dealer or one-on-one from a salesperson to a known prospect. These videos are hosted by UnityWorks Media. UnityWorks has developed an extremely cost effective and efficient platform for businesses to send powerful, media rich content to any personal computer regardless of configuration and bandwidth.
Bill Worthen, CEO of UnityWorks Media! stated. ”We welcome the participation of Twin Cities Angels in our most recent round of financing. Their depth of their business experience and local focus is entirely complimentary to our direction as a company. We look forward to the ongoing relationship.” The Company has requested that no details about the investment be released.
In accordance with its Charter, TCA’s first investment is tied to the closing of the fund to new participants. The fund is now closed to new members until it raises its next fund. Once this fund is fully invested, TCA will create TCA Fund II with current members interested in continuing as well as reopening the fund for new members.
Twin Cities Angels is a formal organization for entrepreneurially-minded member angel-investors. TCA members have a mutual interest in having a high degree of personal involvement and interaction in angel investing. All members are accredited investors with significant industry or functional expertise to contribute to the group. TCA is principally interested in relatively early stage companies where the organization’s members can lead or participate in the formative stages of a successful business. Based on their individual and collective expertise, TCA members are also committed to the organization’s mission of mentoring new companies by sharing their successful work experience and proven business judgment. TCA’s investment and market focus is based on the members’ professional expertise, including but not limited to medical technology: devices, diagnostics, pharmaceuticals, biotech, veterinary medicine; and Information Technology: software, hardware, and IT services.
TCA seeks deal flow in the greater Twin Cities Area of Minneapolis/St. Paul, the state of Minnesota and within a reasonable distance of the Twin Cities in Wisconsin, Iowa, and the Dakotas. Members are educated in desirable investment skills: how to perform due diligence, deal flow creation, legal aspects of investing, term sheet key terms, the venture industry, technologies and other areas of specific interest to angel investors.
The membership-lead organization convenes regularly to meet with pre-screened companies regarding potential investments. There will be no salaried members or those with special carried interest in invested deals and the full membership will be active in deal development, voting on all investment decisions.
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