Investors to gather for creation of Reno angel funding group

A meeting to gauge the interest in establishment of an angel investment group in Reno is scheduled in mid-March.

Facilitated by Nevada's Center for Entrepreneurship and Technology, the session will begin at 5:30 p.m. March 13 in Room 214 of the Redfield Campus of the University of Nevada, Reno.

Dave Archer, chief executive officer of NCET, said participation is limited to people who meet the Securities and Exchange Commission's definition of an "accredited investor." Those people have a net worth of more than $1 million, an income topping $200,000 in each of the two preceding years or a trust with assets of more than $5 million.

And more than cash is required from most angel investors, who provide some of the first capital for young companies.

"Angel investors invest not only their money, but their time, experience and energy as well," Archer said.

Among participants in the March 13 meeting will be two entrepreneurs who have worked with angel investors Mike Hess of Mariah Power of Reno and Rudi Wiedemann of Biodiesel Solutions Inc. of Sparks.

Experienced angel investors also will discuss the process, Archer said.

While the meeting has been pulled together by NCET, Archer said it's up to participants to decide whether to move forward with the creation of an angel investment group.

"The first step is to get people together in a room, but it's only the first step," the NCET executive said.

The NCET also has developed a Web site, renoangels.org., as a communications tool.

The meeting is scheduled during Entrepreneur Week, a series of conferences and events that will draw attention to the creation of new businesses in Nevada