A Member-Managed Angel Investment Fund
Where Experience Meets Vision
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A Member-Managed Angel Investment Fund |
Where Experience Meets Vision |
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October 30, 2006 - Lee May leads the way for the Emergent Growth Fund's investment in local business October 1, 2006 - Lee May Angel Investor (Fortune Small Business)
Imaging Firm Closes Investment to Launch New Mammography ProductThe investment agreement signed with Emergent Growth Fund of Gainesville, FL, includes $180,000 in funding for MaxxVision, providing working capital necessary to complete final design of its new iView FeatureFinder™ imaging device and bring the product to market in December. Fredric F. Derwitsch, MaxxVision’s president said, “Radiologists using the iView FeatureFinder system will now not only see more but could also find more of the subtle features that may indicate cancer on a mammogram”. In a study of the iView platform conducted by the H. Lee Moffitt Cancer study, unnecessary biopsies were reduced by 50% and overall cancer detection increased by 11%. Today women face a 1 in 8 lifetime risk of developing breast cancer and the iView is a lightweight, portable, handheld imaging device that harnesses the power of digital enhancement, enabling the human eye to perceive small, subtle features on mammography film images that may otherwise be overlooked. “The system’s price point is very affordable, which virtually removes the financial barriers to entry, and iView represents a significant opportunity for many of our women’s healthcare facilities across the country”, said Mel Masters, Vice President of Sales and Marketing. About Emergent Growth Fund Emergent Growth Fund, LLC (Emergent) is a member-managed angel investment group, focusing on early stage companies developing unique, leading-edge products, or proprietary technologies that possess the potential for rapid growth in significant markets. Its members are actively involved in the venture capital process, and its strength lies in its members - highly successful businesspeople and investors with extensive experience in building companies and selecting investments. About MaxxVision, LLC The MaxxVision team has been developing high-resolution info-imaging products and technologies since 1989. Founded in 2001, MaxxVision is a venture capital-backed spin-out from Nanoptics Inc., a research and development firm specializing in custom plastic fiber optics. For additional information regarding MaxxVision, LLC, visit www.maxxv.com or contact Rose Cauchon at (352) 378-6620 ext. 24. Gainesville Sun December 18, 2003 New area VC fund finds strong show of support By JOE COOMBS Sun staff writer Emergent Growth will be controlled entirely by its members. A new venture capital fund managed by local residents has earned more support than originally anticipated, and the group will seek potential investments as soon as next month. When Emergent Growth Fund LLC was established, its members hoped to raise between $1.5 million and $2 million, said the fund's chairman, Richard Allen. But a recent flurry of interest has allowed Emergent Growth to close on $2.5 million in commitments from its 50 members, Allen said. Unlike traditional VC funds, which are managed by separate entities, Emergent Growth will be controlled entirely by its members. Investors in the group include active representatives of Emergent Growth will target up-and-coming businesses in Alachua and Marion counties, particularly those with roots in high technology, for its investments. The fund is being modeled after similar entities in the Research Triangle of North Carolina, which feeds off developments efforts at Duke, the Allen said several subcommittees have been established within Emergent Growth's makeup, including panels that will focus on governance, communications and application screening. The group also has room for a handful of additional members, Allen said, and potential applicants must have a net worth of at least $1 million and the ability to invest a minimum of $50,000 in the fund. "We're almost at our capacity for members, but we feel that we can benefit from the expertise of a few more people," Allen said. UF representatives and other local investors started discussions on the fund in November 2002. Those in attendance agreed that there was a lack of capital available for local startup companies, and since then, the investment landscape in Jamie Grooms, a member of Emergent Growth, said he can sympathize with local businesses that are in need of financial assistance. When he founded Regeneration Technologies Inc. in the mid-1990s, there were virtually no investment opportunities for startups, he said. "I remember what I went through 10 years ago, and it would have been unbelievable to have the kind of support that exists here now," Grooms said. "When (Emergent Growth) met last week, the flavor of the meeting was so enjoyable. There's a general sense of excitement among the members. In reality, I didn't think it would materialize the way it has." More information is available about Emergent Growth by sending an e-mail to founders@emergentgrowth.com. The fund expects to have a Web site ready in early January, Allen said. *********************************************** Gainesville Sun October 11, 2003 By JOE COOMBS Sun staff writer The region's lack of investment capital has long been considered a hindrance for The Emergent Growth Fund LLC comprises local investors who plan to finance the operations of startup companies as well as provide consulting to those fledgling businesses. Unlike a traditional venture capital fund that's managed by a separate entity, the Emergent Growth group is operating as an "angel fund" that is controlled entirely by its members. "Investors who sign checks in a venture fund are completely passive," said Richard Allen, Emergent Growth's chairman. "They provide the money and that's it. In an angel fund like ours, all of our members are active in the decision-making. It's our expertise that makes it work." Emergent Growth is modeling itself after three similar funds located in the Research Triangle of North Carolina, which feeds off research efforts at Duke, North Carolina and other universities. Emergent Growth's members expect to work very closely with the University of Florida's Office of Technology Licensing and the UF Foundation. Membership in the fund doesn't come cheap - potential applicants must have a net worth of at least $1 million, and a minimum investment of $50,000 in the fund is required. Allen said the group still is looking for a few more investors to join before the fund closes on Nov. 20. Emergent Growth expects to raise between $2 million and $2.5 million initially, and members have the option of adding investments at their leisure. Troubled by the lack of funding opportunities for local businesses, representatives of UF and other local investors met last November to talk about establishing the Emergent Growth fund. Since then, things have picked up rather quickly - a pair of traditional venture capital funds, Inflexion Fund LP and Eno River Capital LLC, have started operations in Gainesville, and Emergent Growth may begin to accept funding applications as soon as December. Stephan Tuchman, a member of Emergent Growth, said the group's broad range of business backgrounds will be an important asset when consulting clients. Tuchman is chief executive officer of MaxxVision LLC, a Gainesville company whose main product is a hand-held, digital imaging device that is being marketed to the health care industry as a means of improving breast cancer detection. "A lot of new companies, particularly those coming out of the university, don't know how to raise money or they don't have the managerial expertise," Tuchman said. "Everyone here is an accomplished businessperson. We've got people involved in high tech, real estate, biotechnology, electronics. It spans an incredible number of industries, and that's what will make it work." Some of Emergent Growth's other members include Jamie Grooms, former chief executive officer of Regeneration Technologies Inc., Carol Bosshardt, founder and chief executive officer of Bosshardt Realty Services Inc., real estate developer Ken McGurn, Charles and Jeff Marshall, co-founders of Monterey Boats, and Jeff Fitzsimmons, co-founder of MRI Devices Inc. Emergent Growth member Jon Kurtz, executive vice president of SunTrust Bank's North Central Florida region, said he is involved in a similar fund based in Jacksonville. The work has been rewarding, he said, particularly when it comes to interacting with some of the fund's applicants. "You listen to these companies tell their stories, and you can see that their heart and soul is in it," Kurtz said. "The benefits are much more evident than the financial return you'll get by investing in the fund." Emergent Growth will target companies in Alachua and Marion counties with its investments, but will also consider businesses from outside the area. After the fund closes in November, Allen said screening committees will be established to review companies' applications. **************************************** Gainesville Chamber of Commerce News August 3, 2003 Local 'angel fund' established The oft-praised Research Triangle in Our local area is looking a lot like the early Research Triangle in terms of new technologies and entrepreneurial startups. This means there are significant investment opportunities. Joining forces to invest in these opportunities, a group of local businesspeople and investors are creating a member-managed “angel investment fund” modeled on similar funds that have been tremendously successful in the Research Triangle area. The founding members are holding a meeting on September 3rd to launch the fund, and Chamber members are invited. The Gainesville-Ocala area has a number of promising technologies that come out of UF, and some that are developed in the area because of the proximity of the university. The success of Regeneration Technologies, Exactech, Medical Manager and other companies in our area is not an anomaly. The fund - Emergent Growth Fund, LLC – is similar in its operation to a civic organization in that it is entirely member-created and member-managed. The success of the fund is based on the expertise of the members: businesspeople and investors, most of whom have developed technologies or grown companies themselves. The group leverages this expertise and uses it to identify exciting and profitable companies in which the fund invests. The members of the fund are actively involved in the process of evaluating, monitoring and assisting the companies in which the group invests, and the local access makes it easy for the fund to track its investments and to mentor and guide the companies in which it invests. An added benefit is that the community gets to keep environmentally sound and fast-growing businesses in the area. Besides the investment opportunity, the fund is a venue for successful and civic-minded local investors and businesspeople to come together, learn from each other, and share their experiences and expertise in an atmosphere of camaraderie. Nearly 20 leaders in the community have already committed to membership in the fund, bringing experience in areas as diverse as medical technology, biotech, manufacturing, electronics and technology, real estate, finance and law. The fund will work closely with UF’s Office of Technology and Licensing (OTL) and the UF Foundation, and may tap into UF alumni for membership to supplement local investment. It will also work closely with several other venture capital funds, likely co-investing to increase its diversification. The founding members of Emergent Growth Fund will meet on September 3rd to launch the fund. Chamber members, and any other interested parties, are invited to attend. The attendees at the meeting will all be fellow businesspeople and investors who are, themselves, interested in being members. No brokers, managers or outsiders will be there who might have an agenda other than simply being investors and members themselves. For more information in advance of the meeting, email founders@EmergentGrowth.com. Come to this meeting to learn why this type of member-managed fund will be successful in our community. The meeting will take place September 3rd, *************************************************
SpecMetrix Systems from Sensory Analytics Named Technology of the Year Greg Frisby, Industry Manager of Sensory Analytics said “Sensory is honored that our exclusive SpecMetrix In-line and Lab systems have been recognized by the leading global coating, laminating and metalizing trade association as their Technology of the Year. The proven ability of SpecMetrix systems to help manufacturers and converters reduce their coating related costs while increasing production throughput and quality have helped to drive Sensory’s rapid expansion within these important markets.” All SpecMetrix systems deliver precise, real-time coating thickness and film weight measurement results with no contact with coatings or substrates. SpecMetrix systems provide a new non-contact and non-radioactive means to measure wet or dry UV coatings, hard coats, adhesives, varnishes, barrier coatings and other finishes on films, coated papers, glass, foils, metals and other substrates and can help to reduce the environmental footprint of manufacturers. About Sensory Analytics Sensory Analytics is a fast-growing leader in the development of cost-saving coating thickness and film weight measurement solutions for coating, converting and process control applications within the global metal and flexible packaging, industrial coating, cleantech, solar and aerospace markets. The company’s exclusive SpecMetrix systems deliver real-time coating measurement and process validation of thin films and coatings in QA labs and during coating and production processes. The company will be exhibiting its award winning systems in Booth # 950 at the upcoming International Converting Expo (ICE) Show, being held April 6-8, 2011 at the OCCC in About the Association of International Metallizers, Coaters and Laminators AIMCAL is an international, non-profit trade association that represents converters of metallized, coated, and laminated flexible substrates and their suppliers. The expanding group is headquartered in Press Contacts: Greg Frisby Tel: +1 336 315 6090 Greg.frisby@sensoryanalytics.com Fax: +1 336 315 6030 | |||||||||||||||||||||