Best of the Midwest Event Leads to $470,000 in Investor Funding
GREATER DES MOINES, IOWA (Dec. 18, 2018) – A total of $470,000 was invested in nine early stage companies as a result of the Angel Capital Association’s (ACA’s) Best of the Midwest regional meeting held in Greater Des Moines (DSM) in September of this year. The 2018 Best of the Midwest event is the third in an ongoing series for Midwest angel investors. The 2018 event was hosted by Plains Angels, an initiative of the Greater Des Moines Partnership, and the BrownWinick Law Firm. The purpose of these yearly events is to help investors learn about latest industry trends and learn about potential investment opportunities in Midwest startup companies with high growth potential.
The nine companies that received investment included:
- MakuSafe (DSM)
- Pitchly (DSM)
- Alchemie (Michigan)
- SpellBound (Michigan)
- Metametrix (Minnesota)
- Thrivors (Minnesota)
- Fourstarrz (Nebraska)
- Recoup (Colorado)
- Sense Diagnostics (Ohio)
Each company received an investment of more than $50,000, through the Best of the Midwest DSM, LLC, a special purpose entity formed by BrownWinick on a pro bono basis. More than 70 percent of the $470,000 invested came from Iowa investors. With 140 attendees, including more than 90 accredited investors, this year’s event was the largest yet.
“The results of the 2018 Best of the Midwest regional meeting in DSM perfectly illustrates the strength of our region’s startup ecosystem,” said Mike Colwell, Executive Director of Entrepreneurial Initiatives at the Greater Des Moines Partnership. “Iowa investors stepped up and made a statement that promising startups can obtain funding here.”
“We’re proud to be an active participant in the Midwest startup scene and glad we could support this outstanding event and the follow-on financing provided to the presenting companies,” said Chris Sackett, Managing Member of the BrownWinick Law Firm.
“We are extremely pleased with the showing in DSM,” said Sarah Dickey, Membership Director at the ACA. “This was a positive experience for all of the investors and startups involved, and continues to build the Midwest’s reputation as a strong region for entrepreneurial activity.”
Next year’s Best of the Midwest regional event will be in October in Cincinnati, Ohio.
About the Greater Des Moines Partnership
The Greater Des Moines Partnership is the economic and community development organization that serves Greater Des Moines (DSM), Iowa. Together with 24 Affiliate Chambers of Commerce, more than 6,400 Regional Business Members and more than 340 Investors, The Partnership drives economic growth with one voice, one mission and as one region. Through innovation, strategic planning and global collaboration, The Partnership grows opportunity, helps create jobs and promotes DSM as the best place to build a business, a career and a future. Learn more at DSMpartnership.com.
About the BrownWinick Law Firm
BrownWinick is a full-service law firm, providing a wide range of services to businesses and their owners and investors, including startups and mature companies, angel and seed investors, venture capital funds, private equity funds, and strategic investors.