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| Thursday, November 17, 2005 |
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| IDA and Capital Development Corp. Create Investment Fund |
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Robert P. Hannan, Managing Director of the Orange County Capital Development Corp. announced today the successful completion of negotiations with the Orange County Industrial Development Agency to create a Limited Partnership to fund early stage companies. The IDA approved a resolution at its meeting on November 16, 2005 authorizing investment in the fund in the amount of $500,000. These funds will be utilized to augment investments by the Orange County Angel Network, in start-up and early revenue companies that agree to locate their business in Orange County.
The Capital Development Corp. also operates the Orange County Angel Network, an organization of individual investors dedicated to assisting entrepreneurial companies in their quest for capital. The Angel Network conducts quarterly meetings at which pre-screened entrepreneurs present their proposal for funding to the members.
For more information visit www.orangecountycapital.com |
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