Venture capital hunt to go live online in March
Phoenix Business Journal - by Ken Brown The Business Journal
Growth-stage companies put up with a lot when they go begging for startup capital, but according to Valley business consultant Brian Hill, lost luggage, jetlag and the weight of extra business plans don't have to be among them.
Hill is organizing the state's first "virtual" venture capital conference, a five-day event March 15-19 that will match accredited investors to companies looking for money. And unlike similar conferences held in the state, this one will take place completely online.
"We can't really cause anyone to fund anyone else, but we do want to help match them up," said Hill, who has provided management consulting services in the Valley for more than a decade.
"The idea is to create a virtual investor community where people can come and meet each other without a lot of hassle or red tape or expense."
The virtual event is an offshoot of Hill's Capital Connection web site (http://www.capital-connection.com), which was designed as a resource for companies looking for money. He said he got the idea from out-of-state investors who called in search of more information about companies here.
In addition to featuring articles on how to attract venture capital, the virtual conference will allow companies to post details about their business for a database accredited investors can then search by size, funding requested, industry and other details.
Once an investor expresses interest, Hill's organization acts as a go-between, providing more information on each party and connecting the two.
Two out-of-state economic development groups have expressed an interest in the event, including a business incubator program in South Carolina and a group of inventors.
Hill organized a smaller, "beta test" version of the event last summer that involved about 30 companies and a few dozen accredited investors. Though no companies were funded from the event, Hill considers it a success because of the level of participation and the number of inquiries made about companies involved.
About two-thirds of participating companies were contacted by bona fide sources of capital, he added.
He expects at least 50 companies and a few hundred investors to participate in the real thing this spring.
Hill said the virtual conference will help spur interest from out-of-state firms who might not make the effort to travel to Arizona for events.
Hill said his virtual conference is particularly well suited to angel investment, a type of venture capital made by individuals rather than financial institutions.
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