LOUISVILLE, Ky., Jan. 6, 2016 /PRNewswire/ -- Enterprise Angels Community Fund I ("Enterprise Angels Fund" or "EA Fund"), an entrepreneurial "angel" investing fund in the Commonwealth of Kentucky, announced today that it funded seven transactions in 2015 totally $1.95M. This level of activity makes the Enterprise Angels Fund one of Kentucky's most attractive funds for startups and early stage growth companies.
"We are very pleased with the level of funding activity we have made in 2015 in our first full year of business. We are encouraged that the entrepreneurial ecosystem in Kentucky continues to build," said Marty McClelland, Chairman of the Enterprise Angels Fund. "Our eight portfolio companies have created 40 jobs in 2015 and these high growth companies now employ over 60 people in the Commonwealth of Kentucky. We expect 2016 job creation by EA Fund companies to be dramatically higher than 2015 levels."
Enterprise Angels Fund cited strong economic activity in the Commonwealth coupled with the angel investors' tax credit programs available to both funds and individuals as the reasons for the robust level of Kentucky angel investment activity. "Being able to make investments in qualified early stage growth companies and providing our members with a 40% tax credit on those investments has helped us lower the after-tax cost of capital for our angel investors," noted Tony Holland, Board member of the EA Fund. "Because the angel tax credit program in Kentucky is one of the most attractive investor tax credit programs in America" continued Holland "we were able to convince two startups to relocate to Kentucky to create jobs and opportunities for Kentuckians."
About Enterprise Angels Community Fund I
The Enterprise Angels Fund actively invests capital in small businesses in the Commonwealth of Kentucky. The EA fund typically invests between $100,000 and $500,000 in startups, early stage, and growth companies in Kentucky. The Board of Directors is comprised of Mike Bowers, Doug Cobb, Tony Holland, Darren King, Charlie Moyer, Marty McClelland and Doug Whyte.
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SOURCE Enterprise Angels Community Fund I