By guest authors Irina Patterson and Candice Arnold Tim: We [the Tamiami fund members] typically go through a more robust question and answer period inside of the fund structure [than the Gulf Coast Venture Forum]. When we’re done with our question and answer period, we ask the entrepreneur to leave the meeting.
By guest authors Irina Patterson and Candice Arnold Irina: What is your geographical focus? Tim: The state of Florida. As stipulated in our fund document, we are not allowed to invest in companies outside the state of Florida.
By guest authors Irina Patterson and Candice Arnold Irina: Who are the people who invested in the fund? Tim: They are all angel investors, all private individuals. We don’t have any venture funds or other institutions in the fund right now. Irina: Where is the fund located? Does it have a physical address? Tim: Yes.
By guest authors Irina Patterson and Candice Arnold I am talking to Tim Cartwright, chairman of the Tamiami Angel Fund. Created in October 2010 in Naples, Florida, this member-owned and -operated fund, offers early-stage capital in the range of $250,000–$750,000 to high-growth companies located anywhere in the state of Florida. There are 30 investors in
By guest authors Irina Patterson and Candice Arnold Irina: What is your own background? How did you arrive at this point? Chris: Thank you for asking. I’m an entrepreneur. I’ve done four or five of these things. I’ve had successes and I’ve had failures. My biggest success is that I was one of the founders
By guest authors Irina Patterson and Candice Arnold Irina: Would you talk more about warrants? Chris: The concept here is that, if we think one of the companies – or two of the companies – has a lot of promise, we could put an additional $250,000 into that company and really help move them into
By guest authors Irina Patterson and Candice Arnold Irina: Do you compensate mentors who come in to help your entrepreneurs? Chris: They’re all volunteers. Irina: What are your metrics of success at LaunchBox? Chris: There’re two measuring sticks today. The ultimate measuring stick, as a venture fund, is a return on investment to our investors.
By guest authors Irina Patterson and Candice Arnold Chris: The board of advisors for each company enrolled will include two LaunchBox partners and two to three outsiders, who will meet every week for an hour and help to drive this company through the 12-week program. It’s really great. I sit in on every one of