NEW YORK, June 22, 2012 /PRNewswire/ -- Harvard Business School Alumni Angels of Greater New York (HBSAANY) and The National Association of Investment Companies (NAIC) today announced the finalists for their inaugural Venture Capital Access Program ("VCAP©"). VCAP© is a collaborative venture that provides women and diverse entrepreneurs nationwide with access to venture capital through accredited investors within the HBSAANY network.
VCAP©, the first program of its kind, bridges the gap between venture capitalists and angel investor networks and women and diverse entrepreneurs. After a highly competitive national selection process designed to identify high growth potential start ups led by women and minorities, six companies have been selected to present to HBSAANY accredited investors.
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The finalists will present to HBSAANY members in New York at the first VCAP© pitch night on Wednesday, June 27 in midtown Manhattan.
VCAP© launched on May 9, 2012 and generated entries from a large range of industries and market sectors, including technology, retail and entertainment. To date, VCAP© has received 149 applicants, of which 15 companies made round one, and 6 made round two.
In announcing these finalists, David Teten (teten.com), Founder and Chairman of HBSAANY, and Partner at ff Venture Capital (ffvc.com), said "VCAP has introduced us to entrepreneurs looking at opportunities which would otherwise have been invisible to us. We think the potential of the companies we've met through this initiative is exceptional."
The national outreach for women and minority entrepreneurs and the selection process was co-managed by the National Association of Investment Companies, the trade association representing private equity firms focused on the middle market. In its 42 year history, NAIC Member firms have invested in and transformed more than 20,000 companies. In recognition of the importance to our economy of the next generation of entrepreneurs who represent the diversity of our country, NAIC launched The Marathon Foundation, an educational non-profit focused on entrepreneurial growth and access to capital.
"We are very pleased with the high level of participation and the impressive quality of the start-up companies that applied to VCAP©," said Ed Dandridge, President and CEO of NAIC. "In addition to continuing to assist all the companies involved in VCAP©, we are now in the planning stages with HBSAAGNY and corporations about expanding VCAP© later this year."
For entrepreneurs interested in VCAP©, and other related programs, visit Marathon's website at www.marathonfdn.org. For media and corporate sponsors interested in attending Pitch Night, contact Jennell Lynch, email@example.com.
About Harvard Business School Alumni Angels of Greater New York
The Harvard Business School Alumni Angels of Greater New York (HBSAANY) is a nonprofit classification consisting of Harvard alumni in a larger New York area committed to investing in early-stage, private businesses and ancillary a internal start-up ecosystem. The classification invests in companies led by both Harvard and non-Harvard alums opposite all industries. HBSAANY members embody try capitalists, particular accredited investors, and other institutional investors. HBSAANY now invests during a gait of tighten to $2 million in 7-10 companies per year. For some-more information, visit: www.HBSAlumniAngels.com/NY or on Twitter: @HBSAngelsNY.
About The National Association of Investment Companies
The National Association of Investment Companies (NAIC) is a 501(c)(6) trade organization representing women and different choice item managers whose investment strategies concentration on mid-market opportunities. Founded in 1970, NAIC firms deposit in try (early stage/later stage) and private equity (growth/buyout/mezzanine/distressed/secondary funds). NAIC firms beget poignant earnings for institutional investors and shareholders by investing in and transforming secretly hold businesses in tellurian rising markets as good as a $6 trillion annual women and diverse U.S. domestic market. For some-more information, visit: www.naicpe.com
About The Marathon Foundation
The Marathon Foundation (TMF) is a business expansion network dedicated to entrepreneurial growth, entrance to collateral and understanding flow. Formerly a Marathon Club, TMF is an inclusive eco-system of entrepreneurs, corporate professionals, Fortune 500s, tech companies and consumer brands that precedence best practices and vital relationships. TMF's suspicion care programs concentration on women and diverse small business origination and a compared pursuit expansion that will expostulate postulated U.S. mercantile growth. For some-more information, visit: www.marathonfdn.org
SOURCE National Association of Investment Companies (NAIC)