NASVF Appoints Steve Mercil of Minnesota Investment Network Corporation to its Board of Directors.SAINT PAUL Saint Paul, city (1990 pop. 272,235), state capital and seat of Ramsey co., E Minn., on bluffs along the Mississippi River, contiguous with Minneapolis, forming the Twin Cities metropolitan area; inc. 1854. , Minn. -- Minnesota Investment Network Corporation, a community development venture capital firm, today announced the appointment of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Steve Mercil to the National Association of Seed and Venture Funds (NASVF NASVF National Association of Seed and Venture Funds ) Board of Directors. The NASVF is an organization of private, public and nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. committed to building their local economies by investing and facilitating investment in local entrepreneurs. The organization chose Steve Mercil based on his leadership in community growth and his firm's dedication to building capacity for equity investments in markets not served by traditional venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] . "Steve Mercil is a significant resource addition to our board," said Steve Grizzell, NASVF Board Chairman. "He has a wealth of knowledge around the needs of entrepreneurs and emerging businesses. Also, Steve's organization is unique in its mission to encourage local community growth by building a network of angel investors." Minnesota Investment Network Corporation seeks to build local equity capacity by establishing local investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company called RAIN(R) funds initially in Minnesota and eventually throughout the upper Midwest The Upper Midwest is a region of the United States with no universally agreed-upon boundary, but it almost always lies within the US Census Bureau's definition of the Midwest and includes the states of Minnesota and Wisconsin, as well as at least the Upper Peninsula of Michigan. . Currently, there are seven RAIN(R) funds in place and the organization expects several more to emerge this year. "I'm honored and pleased to be involved in a great organization like NASVF," said Steve Mercil, CEO of Minnesota Investment Network. "I'm confident that 2005 will be a productive and promising year for entrepreneurs and emerging businesses." About Minnesota Investment Network Corporation Minnesota Investment Network Corporation is dedicated to building the capacity for equity investments in underserved markets not served by traditional venture capital firms. The organization acts as a catalyst that pools individuals and organizations together to address unmet financing needs. Minnesota Investment Network Corporation builds capacity for equity investments by investing in companies directly, forming local investment funds called RAIN(R) funds, and by managing multi-state and national limited partnership equity funds. For more information, go to www.mincorp.org. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion