ED  Initiative Foundation

http://www.ifound.org





     Office Locations:

405 First Street SE
Little Falls, MN 56345
Phone: 877-632-9255
Fax: 320-632-9258

 

Stages:

  • Seed


 

Industries:

  • Information Technology

  •  

    Description:

    Created in 1986 by a partnership of local individuals and The McKnight Foundation, the Initiative Foundation is one of six Minnesota Initiative Foundations (MIFs) serving greater Minnesota. The MIFs were originally formed to address economic issues related to rural flight, poverty and downtown decline, which were prevalent during the mid-1980s. The Initiative Foundation offers the following business financing programs to meet diverse regional needs: Business Loans, Technology Business Loans, Green Business Loans, Small Business Loan Guaranties, and Seed Investments. The Foundation prioritizes technology-based and green businesses as well as value-added manufacturing and agriculture operations. Nontraditional business owners such as women and minorities are especially encouraged to apply. The Foundation operates a Seed Capital Fund, designed to advance emerging entrepreneurial ventures by financing product concept, development and market research. Preference is given to projects exhibiting potential for substantial growth through the introduction of new products and services. In return for Seed Capital Fund investments, the Initiative Foundation may negotiate company equity or royalties that reflect the incurred risk. For business start-up and expansion projects, Initiative Foundation business financing programs meet the 'gap' between the financing a local lender is able to provide and the equity the owner is able to contribute. Financial participation by a local lender is required. The Seed Capital fund's maximum investment amount is $50,000 per investment. Since its inception, Initiative Foundation invested more than $55.1 million in the region through targeted grants and business financing investments. In 2010, the Foundation also received a $750,000 CDFI grant to support the Technology & Green Loan Funds.



    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
       
       
       
    COMPANY STAGEREVENUE
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Revenue
    Growth Stage
    (also called Mid-stage)
    $2M-$7M
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B
       
       
     

    Investment Team:


    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Dan Bullert Business Finance Officer
    Don Hickman Vice President for Community & Economic Development
    Kathy Gaalswyk President
    Lynn Houle-Bushinger Vice President for Finance & Operations

     

    Portfolio companies include:


      Adjust to Wellness
        web link


      CavCom
        web link


      CDC Enterprises
        web link


      Cru Wine Specialists
        web link


      DJN, LLC
        web link


      Equipment Reliability Services
        web link


      Granger Machine
        web link


      Green Power Technology
        web link


      Larson Boats
        web link


      Link Corp.
        web link


      Midwest Calibration & Repair
        web link


     

    Recent News:


      There is no recent news for Initiative Foundation.