Local Investors, RAIN Source Capital Form Boise Angel Fund to Invest in Local Companies.

Kevin Learned, Boise Businessman, Named RAIN Source Capital's Idaho Field Agent

BOISE, Idaho -- A group of local angel investors and Minnesota-based RAIN Source Capital have formed the Boise Angel Fund, LLC, in Boise, Idaho. The new fund is currently capitalized at $800,000 and has 15 members, including local angel investors, institutions, and RAIN Source Capital, who have pooled their investment dollars to create the fund. The fund will invest primarily in regional companies located in Idaho as well as in the Intermountain region.

In addition, RAIN Source Capital has contracted with Kevin Learned, local business leader and a member of the Boise Angel Fund, to serve as RAIN Source Capital's Idaho field agent.

"This is our first fund in Idaho and we see strong interest from area angel investors in supporting high growth, early stage companies, while also providing opportunities for investors seeking a return on their money," said Joan Wurzer, executive vice president of RAIN Source Capital. "Kevin will be building on the interest we've seen to help establish more RAIN funds in Idaho in the months ahead."

The Boise Angel Fund is the 21st RAIN([R]) fund to be formed through RAIN Source Capital, which includes a multi-state network of angel funds. In addition to being an active investor in each of the funds, RAIN Source Capital also provides a process for due diligence, legal templates, management support and other resources. Each RAIN fund determines what industries it will focus on, and the type and level of financing to provide, based on the interests and expertise of its members. Fund members play an active role in selecting and screening companies for potential investment, as well as monitoring company performance. The RAIN funds are also able to draw upon the expertise, experience and deal flow from across the network.

Learned led the effort to organize the Boise Angel Fund and, in addition to being a fund member, will provide investor support services throughout the life of the fund. "This fund grew out of the Boise Angel Alliance, which reviewed business deals but didn't have investment dollars," he said. "RAIN Source Capital has a very effective and efficient model for how a group of angel investors can work together. We also see great benefit in being able to tap into the entire network of RAIN funds for deal flow and expertise."

Officers of the Boise Angel Fund are Mary Givens, fund chair and secretary, and Philip Bradley, treasurer.

Angel investors, typically defined as individuals with annual income exceeding $200,000 and/or having a net worth of more than $1 million, are often self-made, cashed-out entrepreneurs who have capital and business experience, and are interested in helping other companies to grow. In 2006, angels invested $25.6 billion in 51,000 U.S. businesses. In addition to investing capital, angels also invest time and expertise, providing business strategy and management support to companies they invest in.

For more information on the Boise Angel Fund, contact Learned at [e-mail].

About RAIN Source([R]) Capital

RAIN Source Capital (www.rainsourcecapital.com) is a multi-state network of RAIN([R]) funds that works with angel investors who are interested in supporting growing companies. RAIN Source helps bring together like-minded angel investors to form individual RAIN funds - and then provides these funds with capital, legal templates, a process for due diligence, management support, access to deal flow and other resources. RAIN funds share expertise, deals and experience between and among RAIN Source Capital's multi-state network.