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Wilderness On A Plate: A California Chef On His Foraged Feasts

Feb 10, 2012 (All Things Considered) — In this post-recession era, angel investor groups have stepped in to finance startup companies that banks and venture capitalists deem too risky. Twenty of those groups are in Wisconsin, including one that meets at a Milwaukee social club where local money is finding its way to local startups.

Thirty-five well-dressed men and women are sipping wine and chatting in the lounge of one of Milwaukee's oldest and most exclusive social clubs. A century ago, this is where the city's beer and banking giants mixed and mingled. Tonight's crowd isn't all that different — many of these men and women are worth at least a million dollars. Once a month, they pool their money to invest in high-tech, fast-growth startups. They call themselves the Silicon Pastures Angel Investment Network .

In recent years, dozens of new angel investor groups have formed to finance startup companies that banks and venture capitalists deem too risky in this post-recession era. Today, there are about 350 angel investment groups across the country — 50 of them formed after the recession started in 2008.

Kelly Fitzsimmons is the co-founder of an angel-supported startup. As waiters in white shirts and black ties take drink orders, Fitzsimmons makes her way across the Milwaukee social club's shiny, red tile floor. Over five years, this group of investors has given Fitzsimmons more than $1 million for HarQen , her fourth Milwaukee startup. HarQen is a Web-based service that records voice conversations and allows users to take notes, share photos or slides, and then quickly retrieve key passages once the conversation is over. Right now, it's used mainly for job interviews by staffing companies.

"We text, we email, we tweet," Fitzsimmons says, "and yet when a conversation is vital, we stop texting, and we pick up the phone and we talk."

At least that's what Fitzsimmons hopes we do. Tonight, she's asking Silicon Pastures to open their checkbooks yet again. She says angels have become a lifeline for entrepreneurs who can't get a bank loan or don't have the cash to bootstrap a company on their own.

Home Owners Insurance California - News


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Wilderness On A Plate: A California Chef On His Foraged Feasts

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Returning to Gilead to care for her dying father, Glory Boughton, the daughter of John Ames's closest friend, is joined by her long-absent brother, with whom she bonds throughout his struggles with alcoholism, unemployment, and their father ...

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