10 Dec Lake Superior Angel Network to support entrepreneurs in three-state region
Superior, Wis. – The Lake Superior Angel Network agreed Tuesday to focus early-stage investments in a multi-county region stretching roughly from Duluth, Minn., and across northern Wisconsin to Ironwood, Mich.
The new network of about two dozen angel investors have agreed to serve contiguous counties from St. Louis County, Minn., through Gogebic County, Mich., including the Wisconsin counties of Douglas, Bayfield, Ashland, and Iron.
Typical investments will range from $50,000 to $500,000, but larger funding rounds will be introduced to other angel groups for consideration of co-investments.
Businesses located in the Lake Superior region would be given preference, but companies outside the region could be considered for investment, especially if referred by another angel network.
The Lake Superior Angel Network will be the 22nd angel group to affiliate with the Wisconsin Angel Network.
“This is the first angel network north of Highway 8 in Wisconsin,” noted Joe Kremer, director of the Wisconsin Angel Network, in a statement released by the Wisconsin Technology Council. “It continues WAN’s multi-state approach by involving investors from Minnesota and Michigan as equal partners in seeking good deals and growing the regional economy as a whole.”