Alternative Financing
The Enterprise Institute is involved in growing angel investing in South Dakota. Two initiatives provide different formats to facilitate angel investment in South Dakota companies.
Enterprise Angels™
Enterprise Angels™ formed to encourage investment in high-growth, start-up companies in an organized effort. It is a network of accredited investors and angel groups that meet at least quarterly for presentations of companies that are seeking capital investors. The dinner meetings include networking time, educational topics and discussion of issues related to angel investing. Support services and deal flow are provided by the Enterprise Institute. (Enterprise Angels website)
SDSU/Brookings Angel Fund, LLC
A group of angel investors and RAIN® source capital have formed a new RAIN®angel fund, SDSU/Brookings Angel Fund, LLC, in Brookings, S.D. SDSU/Brookings Angel Fund is capitalized at $1,000,000 and has 18 members who have pooled their investment dollars to create the fund. The fund will invest primarily in regional start-up companies located in Brookings and the tri-state area of South Dakota, Minnesota and Iowa. Duane Sander, retired Dean of SDSU Engineering Department, co-founder of Daktronics and founder of the Enterprise Institute is serving as the fund's Chair. The Enterprise Institute, was actively involved in organizing the SDSU/Brookings Angel Fund and will provide local administrative services throughout the life of the fund. The SDSU/Brookings Angel Fund is South Dakota's second RAIN® fund.
RAIN® funds
Regional Angel Investment Network, RAIN® funds are a series of formal investment funds available for economic development in South Dakota communities through the Enterprise Institute and RAIN Source Capital. RAIN® funds pool intellectual and financial resources of accredited individuals and institutional investors in order to supply seed and growth equity capital for emerging companies in their communities. RAIN® funds are a model of angel investing that gives an alternative to traditional angel financing.
South Dakota RAIN® funds