Cherrystone Angel Group, which recently organized as Rhode Island’s first formal angel investment group, announced the launch of its Web site in late March.
The site, which can be accessed at www.cherrystoneangelgroup.com, details the types of emerging companies in which the group is looking to invest, as well as the investment process itself and an application form. Since the group’s formation in January, four local companies have made presentations.
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“Angel groups like ours provide the seed capital that very young companies need to develop their business concept or product to help them grow to the point where they can seek other forms of institutional capital, such as venture funding,” said Garrett B. Hunter, secretary-treasurer of the angel group.
Applicants seeking funding may apply at any time. The group meets every other month to hear select presentations that seek to address a significant market opportunity.
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