The Index Fund gives local investors the opportunity to access these companies at the ground floor when it would be difficult otherwise, before valuations begin to increase, and in a way that helps alleviate some of the risk.
Charlotte, NC (PRWEB) March 20, 2014
The RevTech Labs III 506(c) Index fund is officially open for investment. With the launch of the RevTech Labs III class, the fund allows accredited investors to invest in the spread of 10 startup companies with a minimum investment set at $2500. The first of its kind in the Southeastern United States, the Index Fund will give access to angel investment, regardless of seed and angel level experience, while helping to promote and grow the Charlotte entrepreneurial and startup ecosystems.
“We’ve created an opportunity within the Charlotte community to get in on the action while companies are in the early stages and valuations are still low,” says Eric Kagan, Founding Partner at Sierra Maya Ventures. “The Index Fund gives local investors the opportunity to access these companies at the ground floor when it would be difficult otherwise, before valuations begin to increase, and in a way that helps alleviate some of the risk.”
Well known accelerator and incubator programs such as TechStars, RockHealth and Dreamit Ventures have launched successful funds to support partitions of their portfolios, creating dramatic results for their investors. The Revtech Labs III Index Fund is the first of its kind in the region, introducing a new and promising dynamic for angel and seed investors in Charlotte and the surrounding regions. The RevTech Labs III Index Fund is structured through a partnership with AngelList, the leading equity crowdfunding platform with over $100 million raised.
"AngelList class funds make it easy for investors to simultaneously invest in all of an accelerator's portfolio companies at pre-Demo Day valuations,” says Naval Ravikant, Founder of AngelList.
The creation of the RevTech Labs Index Fund is a reflection of the strong push by the business and community leaders of Charlotte to bring the city to the forefront of the nation's entrepreneurial ecosystem. With the accelerator competing on the national level, the program attracted over 150 applicant companies, with the final roster including companies from New York, the San Francisco Bay Area and other regions across the country. The move is a strong signal for the growth of the region's startup community, a move heavily promoted and led by Charlotte startup hub and entrepreneurial center Packard Place.
"Charlotte is in a prime position to house these startups and launch a fund to support them," says Dan Roselli, Founder of Packard Place. "We've created large scale community buy in from the local investor and venture capital community, as well as the hallmark banking, technology, energy and business organizations in the Charlotte region. We've recruited top players to provide mentorship, and have recruited many of the abundant resources within the area to surround the portfolio companies to help them grow, succeed and exit efficiently."
For investors new to seed and angel investing, the Index Fund presents an attractive value proposition. With the minimum contribution set at $2500, the fund aims to minimize the barrier to investment and give Charlotte as well as the national and global communities the opportunity to support and grow the city's startup ecosystem. The fund also alleviates much of the risk associated with angel investing by relying on an entire class of companies, with each organization vetted by a structured selection process. The class is provided quality mentorship and support, access to the resources and connections needed to move beyond the early stages quickly, and the full support of RevTech Labs and Packard Place. Companies within the class have already seen wins, with class company iGenApps winning 3rd place at the SXSW Pitch Competition. The full class of 10 companies can be viewed at http://www.revtechlabs.com/#current-class-rtl3.
“We picked a variety of companies across a range of sectors, each with a solid pedigree,” says Amish Shah, Founding Partner at Sierra Maya Ventures and Managing Partner in the RevTech Labs III program. “We spent a great deal of time vetting each company, and have created a solid portfolio of companies for the Index Fund. And we’ve added our own resources and network into the equation to get these companies the funding, mentorship and connections they need to compete and be successful. All in all, we have created a very attractive proposition for investors, and look forward to creating great returns.”
To learn more and explore investment opportunities in the RevTech Labs III Index Fund, visit https://angel.co/revtech-labs-iii.
About RevTech Labs
RevTech Labs is a three-month program focused on early-stage mobile, software and web companies. A partnership between Charlotte entrepreneurial hub Packard Place and top ranked early stage venture capital firm Sierra Maya Ventures, RevTech Labs provides mentorship, programming and work space to revolutionary technology startups. To learn more about the program, visit http://www.revtechlabs.com/.
About Sierra Maya Ventures
Sierra Maya Ventures provides Seed, Angel and Early Stage Capital to help entrepreneurs around the globe turn their dreams into a reality. They target innovative and passionate Founders looking to start a revolution in today's world. To learn more about the venture capital firm, visit http://www.sierramayaventures.com/.