The 49th State Angel Fund is a unique source of value for Alaska: Based out of the Municipality of Anchorage, we invest in third-party, private-sector managed funds with a local focus. These funds then deploy capital into Anchorage businesses or those which could show our community potentially significant economic benefit.
As of 2020, we will also invest directly in companies that meet our criteria. See this webpage for details.
We invest for both financial and economic development returns.
co-investment fund
Through our Co-Investment Fund, we’ve made direct investments in the following companies, matching 1:1 private investors’ dollars.
PARTNER FUNDS
Since 2012, we’ve invested as Limited Partners in the following funds, which make and negotiate their own investments in companies.
Company Stage: Growth | Status: Currently investing
Fund Size: $3 million
A fund that increases financial capacity at proven firms seeking to expand operations. Target portfolio companies are mature, with a preference for five years or more of operating history.
Managers: John Rubini, Mark Kroloff, Jimmy Miner
Contact: jminer [at] jlproperties.com
Company Stage: Growth | Status: Fully Deployed
Fund Size: $8 million
A flexibly structured fund that can invest in a wide variety of firms. Target portfolio companies are generally those with at least one full year of revenue history, or firms in need of capital raises in excess of $1 million, or with multiple investing partners.
Managers: Paul Wiltse, Neil Gunn
Contact: pwiltse [at] venturenorth.com
Company Stage: Growth | Status: Fully Deployed
Size: $4.4 million
Focused on financing high-growth businesses, welcoming manufacturing, technology and import substitution opportunities and other sectors. Target portfolio companies are post-revenue. Managers: Jamie Kenworthy, Judith Bassoul
Web: 49thfund.com
Company Stage: Seed | Status: Fully Deployed
Size: $2.3 million
A startup accelerator and fund that invests in startups looking to transform the fields of energy, food, water, and transportation systems. Provides curriculum and connections.
Manager: Isaac Vanderburg | Web: launchalaska.com
Company Stage: Pre-Seed | Status: Fully Deployed
Size: $2.3 million
Alaska’s first angel and early-stage fund, founded 2014, that added value to startups by leveraging manager, advisor and angel investor experience into firms at the plan and prototype stage.
Managers: Katherine Jernstrom, Al Hermann, Forrest Nabors, Ky Holland, Lori Davey
Contact: partners [at] alyeskavm.com
Company Stage: Pre-Seed | Status: Currently lending
Size: $225,000
Funded through 49SAF’s Evergreen Fund, an entrepreneurship education program and fund focused on providing low interest rate loans to neighborhood and underrepresented entrepreneurs in Anchorage.
Manager: Jeff Tickle
Contact: jtickle [at] cookinletlending.com
Company Stage: Pre-Seed | Status: Annual Fund
Size: >$100,000 | Investment Range: >$100,000
A program designed to improve the skill sets of both Alaska angel investors and entrepreneurs, working with them for weeks as investors ask questions regarding due diligence and companies show increased traction. Funded through 49SAF’s Evergreen Fund.
Web: akangelconference.com
Contact: akangelconference [at] googlegroups.com
Company Stage: Pre-Seed | Status: Fully Deployed
Size: $50,000
A University of Alaska affiliated fund offering fast capital for entrepreneurs designed to help them validate customers, improve prototypes or commercialize technologies. Ran in 2017, 2019. Funded through 49SAF’s Evergreen Fund.
Managers: Mark Billingsley, Lance Ahern
Web: alaskaseedfund.com