FOR IMMEDIATE RELEASE:
New Angel Firm Hot to Target Early-Stage Tech Startups
TechFarms Capital Management launches startup funds targeting select geographic areas in the Southeastern United States.
Panama City Beach, FL, October 3, 2016 – Today at the 2016 Gulf Power Economic Symposium TechFarms Founder and CEO Steve Millaway took the opportunity to announce the launch of a new angel firm targeting tech startups in the Southeast.
Presenting this afternoon on the importance of entrepreneurial development in regional economic development planning, Millaway highlighted the dynamic role entrepreneurs can play and also, the importance of securing capital for them.
“Tech entrepreneurs play a vital role in economic development. The startups typically begin in homes, warehouses, and incubators, organically growing ecosystems that eventually attract larger tech and manufacturing firms,” said Millaway. “Without the skilled workforce these startups create, many cities and regions across the US have found it nearly impossible to lure larger firms. However, as these startups grow, they too can be lured away to more populated regions where capital is more abundant. Capital is vital to business survival. If the startups can’t secure it, they’ll leave. That’s why today we’re announcing TechFarms Capital Management.”
TechFarms Capital Management will focus on raising capital and investing in technology startups throughout the Southeast. The announcement of the new angel capital firm accompanied presentations by Florida Governor, Rick Scott, Chairman and President of Gulf Power, Stan Connally, Founder of Reinventors and former Managing Editor of Wired Magazine, Peter Leyden, and from ABC’s Shark Tank, Daymond John. This new firm will target early-stage tech startups in three Southeastern states – Florida, Alabama, and Georgia. A second fund will focus on startups specifically located in TechFarms’ home region of Northwest Florida.
The funds are modeled after the traditional limited partnership structure and are open to accredited US investors, institutional partners including corporations, and university endowments. Investments will target innovative and scalable private sector tech startups in areas such as hardware, software, cybersecurity, medical devices, robotics, and Internet of Things (IoT) devices. The company will begin accepting investments for both funds and applications for funding from startups beginning November 1, 2016.
About TechFarms: Located in Panama City Beach, FL, TechFarms is a technology incubator that provides office space, prototyping equipment, business and technical mentoring, and a host of other amenities to assist entrepreneurs. More information is available at TechFarms.com.
About TechFarms Capital Management: Headquartered in Panama City, FL, TechFarms Capital Management is an early-stage angel capital firm whose funds will target innovative tech startups in the Southeastern US. More information is available at TechFarmsCapital.com.
Steve Millaway, Managing Director, TechFarms Capital Management & Founder/CEO TechFarms, LLC c: (850) 896-2871, e: email@example.com