jobermeyer said
We have been running a Capital Connects! investor breakfast since 2004. We tried doing it three times a year, but ran short of deal flow. So, now it's an annual event. Held the last Thursday in August, from 8am-10am.
24 entrepreneurial ventures participate and are each represented in a spiral-bound deal book with a one-page summary, and the top 4 companies receive a 3-page summary and make an 8-minute pitch. We average 50-60 accredited investors and the only charge is to cover the meals. Ironic that high-net-worth investors don't want to pay more than $30 to see this kind of deal flow. We raise $5,000 to $7500 in sponsorship from law firms to cover all the costs.
We have a screening committee from a local investor group to make sure the deals are strong, and we do go outside the area to recruit deals. The point here is to attract investors year after year, and it never hurts to have talented people from outside the area getting to know the area. Maybe they'll move their company here once it's funded.
Results: Companies participating have now raised over $30 million both directly and indirectly from our event. Sometimes they don't raise money from us directly, but maybe the exposure we give them gives them the confidence for future pitches. We have several companies that have entered into joint ventures and strategic alliances based on meeting at our event, and one acquistion that I'm aware of (the investor bought the presenting company outright and is running it himself he liked the technology so much). I also use this as a way to cultivate support for my organization: there's nothing like having 80 people in a room, networking and putting deals together.
You can view our program link at http://www.pten.org/courses_det.asp?event-occ-id=207043401
Jon Obermeyer
CEO, Piedmont Triad Entrepreneurial Network
Greensboro, NC
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