Aaron Tennant, Monte Bottens and Tom Trone have formed a new Angel Investment Group, Riverbend Angels. The mission of Riverbend Angels is to identify and develop high-potential start-up businesses that can create new jobs and contribute to their local economies, while making a good return for all stakeholders.
Riverbend Angels is based in the Quad-Cities. It will focus on local as well as regional start-up investment opportunities beginning now. Riverbend Angels was formed 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, according to it's press release.
The Riverbend Angels investors will focus on sectors and industries that they know well ensuring that funding comes with value adding expertise and mentoring, according to the release. The Angels will expect that potential investment candidates have taken steps to organize their businesses and assemble a success-oriented team as well as 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.