Frankfort: Gov. Steve Beshear announced the creation of the Kentucky Angel Investors Network, a virtual network that links companies pursuing funding with would-be investors from across the state. Beshear kicked off the initiative at the inaugural Kentucky Investment Summit, held last week in Frankfort.
Kentucky Angels will bring new ventures and accredited investors together via monthly online meetings, providing investors access to early-stage deal flow on a statewide basis. Membership is open to investors within the state. The first online meeting is planned for January. Initial implementation of Kentucky Angels is led by the Cabinet for Economic Developments Office of Entrepreneurship, the Lexington office of the Kentucky Innovation Network, and the Von Allmen Center for Entrepreneurship at the University of Kentuckys Gatton College of Business and Economics.
Monthly online presentations will feature entrepreneurs who already have a lead investor and negotiated term sheet, said Dean Harvey, executive director of the Von Allmen Center for Entrepreneurship. This approach will help simplify due diligence for other investors and foster communication among investors and entrepreneurs on a statewide basis.
More information on Kentucky Angels is available at Kyangels.net .