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Exits – Important for Entrepreneurs, Angels, and Angel Groups

Angel Insights Blog

Thursday, June 06, 2013 

Exits – Important for Entrepreneurs, Angels, and Angel Groups

I had the pleasure of listening to Frank Peters interview Liz Marchi, coordinator of the Frontier Angel Fund in Montana, last weekend. The podcast interview was fun, as Frontier Angels had two exits in late 2012 – great for the entrepreneurs, investors, and the angel group itself. Or as Liz puts it “everyone understands the ‘do good’ part of angel investing, but it is great to ‘do well’ so I can invest again… It’s really fun to put capital in to build companies.”

Here’s information on the two exits:

  • LigoCyte Pharmaceuticals of Bozeman, MT was acquired by Japan-based Takeda America Holdings. LigoCyte specializes in innovative vaccine products. More details here.
  • Pacinian – Frontier Angels’ largest investment to date – was purchased by Synaptics. Spokane, WA based Pacinian had developed ultra thin keyboard technology and video display contollers. More details here.

These two exits came at a great time for Liz and her colleagues. The first fund is 90 percent invested, keeping some dry powder for follow-on investment in some of the other 12 companies in the fund’s portfolio, and it was time to begin raising a second fund. To say that these exits will help in attracting investors to the new fund is an understatement.

Congrats to the Frontier Angel Fund – the angel community celebrates with you. Clearly their original strategy to build the local entrepreneurial ecosystem while also building strong relationships in the Pacific Northwest works. With the experience they’ve gained over the last 6 or 7 years, they can think through new ideas to keep building their success.

If you have an exit or great investment to share with ACA’s members and other readers, please send them to me or Sarah Dickey.  It is important to celebrate!

Link to The Frank Peters Show interview.   His introduction:

We see each other every year in Seattle for the NW Regional Angel Conference.
This year she had a big smile on her face — the Frontier Angel Fund has had 2 big exits.
Meet Liz Marchi.
What’s so remarkable about a couple of large exits in an angel fund?
Liz’s fund is based in Paulson, MT, for one. So call me a little prejudiced, but who would guess that the fund and the local ecosystem are doing so well, so far from any major urban center.
Liz tells the whole story, from her office in the barn…


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