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RAIN Source Capital is a multi-state network of RAIN 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, a process for due diligence, legal templates, management support, access to deal flow and other resources. There are currently over 35 RAIN funds with $20 million in committed capital, and currently spans six states located in Midwestern states including funds located in Alexandria, Grand Rapids, Worthington, Willmar, Montevideo, St. Cloud, Mankato, Northfield and Minneapolis. RAIN funds range in size from seven to 61 members, who have pooled anywhere from $500,000 to $2 million. Each individual RAIN fund determines what industry it will focus on, and the type and level of financing to provide, based on the interests and expertise of its members. The RAIN fund network currently has more than $40 million invested in over 100 companies. RAIN also operates Empowerment Funds, which are venture funds that provide capital to later stage companies (RAIN Junior Debt Fund-LP, RAIN Leasing Fund-LLC, Invest Northwest (INW) Fund I).
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