Silicon Valley members of the Santa Clara-based nonprofit networking firm TiE have formed an angel investment group to help area entrepreneurs who are looking to form an LLC.
The group says its members will work to provide startup companies early-stage investment, along with ongoing support and advice, as they grow.
“Since its inception, TiE has served exceptionally well as a mentor, educator and advisor to entrepreneurs,” said Vish Mishra, president of TiE Silicon Valley and venture director for the VC firm Clearstone Venture Partners. “TiE Angels will now fill that role by providing seed capital to put promising entrepreneurs on the first-rung of the success ladder, a crucial need in the current economic environment.”
Companies interested in getting an investment should not have received other VC funding, and should be seeking investments up to $500,000.
The company has a global reach, and is the largest nonprofit organization in the world for entrepreneurs. It has more than 15,000 members spread across 55 different chapters in 13 countries. TiE says that since 1992, entrepreneurs associated with the company have started businesses that are now worth more than $200 billion.
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