The following article was initially published on Jan. 13, 2020 via Clay & Milk.

FIN Capital, Iowa’s female angel investor network, announced last week it has invested more than $1 million into eight different startup companies.

This milestone comes just four years after FIN’s effort began. Fin Capital started in 2015, when the Iowa Center for Economic Success was approached by Gov. Kim Reynolds and Debi Durham the Director of Iowa Economic Development Authority and Iowa Finance Authority to create the first women’s angel investing network in Iowa.

Jump to today and FIN Capital now has 24 members who are individually accomplished, accredited or share a common interest in angel investing.

“When we started FIN Capital, women were not participating in angel investing in our state; we even had to go outside Iowa to source education and training opportunities,” said Megan Milligan, president of the Iowa Center for Economic Success, in an announcement. “Now, just three years since that first day-dreaming conversation with Gov. Reynolds and Director Durham and two years since our first investment, not only have women injected more than a million dollars into startups, we have created dozens of experts, several of whom have traveled the state and country teaching others about angel investing.”

Based in Des Moines, FIN Capital invests between $50,000 and $100,000 in early-stage companies, with preference to Midwest companies. The organization leverages its member’s backgrounds and expertise to vet deals across all industries, though FIN’s primarily invests in companies focused on: insurance, agriculture, and medical and health technology.

“Entrepreneurship is one of the most important activities that contribute to economic vitality and wealth creation,” said Director Durham. “FIN Capital is a platform to empower women as they pursue opportunities for financial success via investments in early-stage companies.”

FIN Capital’s portfolio companies include: AbiliTech Medical (St. Paul, MN); ClearFlame Engines (Chicago, IL); Gain Compliance (Des Moines, IA); LEAH Labs (Rochester, MN); Metametrix (Minneapolis, MN); Oculogica (New York, NY); Starting 11 (Minneapolis, MN); STRATAFOLIO (Cedar Rapids, IA).

Individual member investments include ClinicNote (Des Moines, IA) and The Best of the Midwest DSM LLC, a special purpose entity that invested $470,000 from Midwest investors to nine companies at the 2018 event hosted by Plains Angels.

 

 

 

To read more about economic development in Iowa, click here.