A huge unforced error entrepreneurs make is not updating their investors. Lack of investor updates is a great source of frustration amongst angel investors.
We have included a sample Investor Update report here in PDF format along with the Powerpoint slides referenced below.
Louisville, KY — Kentucky Select Fund, LLC (“KSF” or “Fund”), an angel investment fund dedicated to providing capital to early-stage businesses with talented management teams, announced its approval today as an Investment Fund eligible to make qualified investments under the Kentucky Investment Fund Act (“KIFA”). KIFA-enabled funds provide their limited partners (LPs) 40% tax credits for qualified investments within the Commonwealth of Kentucky.
“We are humbled by our LPs resounding support and appreciative of their embrace of our mission to provide critical seed and Series A angel capital to high growth startups and small businesses within the Commonwealth and throughout the United States,” commented Darren King, General Partner at KSF, “and we are thrilled that the Kentucky Economic Development Finance Authority has approved our fund under KIFA.” KSF has already begun exploring investment opportunities and is in deep discussions with numerous businesses with high growth potential.
KSF received commitments from a prominent group of angel investors from Louisville and throughout the Commonwealth. KSF’s limited partners embrace the Fund’s dual mandate of empowering entrepreneurs with much needed capital while simultaneously providing investors with an alternative asset class investment that is passive, diversified and capable of generating attractive returns. “There has not been a Louisville-based KIFA angel fund since we launched the Enterprise Angels Fund in 2014,” said Marty McClelland, General Partner.
Vik Chadha, also a General Partner at KSF noted, “The enthusiasm we received from Kentucky angel investors so quickly shows both how long overdue a fund like ours is in Louisville, and the greater awareness within investing circles that angel investing may be an attractive investment vehicle if done with the right discipline and focus.” Chadha continued, “And, our ability to provide our LPs with a 40% tax credit for Kentucky investments via the KIFA program makes our investment thesis even more compelling.”
About Kentucky Select Fund
Kentucky Select Fund is an angel investing fund based in Louisville, Kentucky. The Fund makes investments in startups in the continental United States in amounts up to $500,000 at the fund level and up to $2,000,000 when combined with syndication partners. KSF focuses on businesses with high growth, capital-light business models such as information technology (e.g., cloud computing, artificial intelligence, data analytics and business intelligence, SaaS, fintech, edtech, and enterprise software), healthcare (e.g., healthcare services, life sciences and biotech, and medical devices), and media and entertainment.
KSF’s collaborative model of providing capital and valuable mentorship through its robust network of accomplished limited partners resonates with startup entrepreneurs who are looking for value added partners to assist them with capital, expertise, and connections throughout their startup journey. More information about KSF can be found at KentuckySelectFund.com, including investment criteria, process, and a sample of the prominent angels who comprise the Kentucky Select Fund.