SALT LAKE CITY – Maverick Angels Utah, a new chapter of one of the nation’s leading and most innovative angel investor networks, today announced a series of formal launch events introducing the Utah Chapter scheduled to take place over the next 100 days.
The first formal launch event, the Maverick Angels Utah Arena Meeting, will be held on Friday, March 18, 2011 at the law offices of Durham Jones & Pinegar. The Arena Meeting will feature presentations by five innovative companies from California and Utah. It will begin at 11:00 a.m. and run until 2:30 p.m. with presentations starting promptly at 11:30 a.m.
Participation in the event is open to potential investors, mentors, service providers, corporate sponsors and local and state government officials who want to support innovation as a key driver of economic development, job creation and long-term prosperity in Utah.
D. Brent Israelsen, experienced entrepreneur, former Morgan, Lewis & Bockius attorney and Jurisoft/Lexis Nexis executive, will lead the formal launch events as the Utah Chapter President together with the Maverick Angels Utah team. The events will also be supported by William Barber, Maverick Angels President, and Dan Roberts, Operations Manager for the Southern California and the Utah Chapters.
“Maverick Angels offers a unique angel investment model that helps to support the launch, growth and expansion of promising early-stage and emerging-growth companies in Utah,” said Israelsen. “Our Maverick Angels Utah team is pleased to offer the group’s win-win approach to support entrepreneurs and angel investors as well as the local community, venture capital and private equity investors and potential corporate partners who are looking to invest in or acquire new, game-changing innovations.”
Before deciding to formally launch its Utah Chapter, Maverick Angels worked for a year to build key strategic relationships with a variety of players across Utah’s entrepreneurial landscape. This work helped the Maverick Angels Utah team to evaluate the levels of interest and opportunity for the entrepreneur-friendly Maverick Angels philosophy and entrepreneurial approach in the State of Utah. Assisting the Maverick Angels Utah team in the evaluation work were legacy sponsors for the Utah Chapter Durham Jones & Pinegar and CBIZ and Mayer Hoffman McCann P.C.
“As we closed out our evaluation work in 2010, we realized there was an opportunity to operate Maverick Angels Chapter in the State of Utah,” said Israelsen. “Funding for innovation nearly dried up after the financial crisis of 2008 leaving promising companies stranded along the path to success because of funding gaps or a lack of skilled personnel, experienced mentors or needed resources. The Maverick Angels process takes an entrepreneur-friendly, end-to-end approach to growing companies and funding innovation that benefits both the entrepreneurs and the angel investors.”
Doug Clark, an experienced entrepreneur and former member of the Governor’s Office of Economic Development, sees the need for groups like Maverick Angels in Utah. “When I was serving as Managing Director of Business Growth for the State of Utah, I saw a clear need for a better way to get innovative companies funded and to increase the skill sets and experience among our entrepreneurs” said Clark. “The mentor capital model that Maverick Angels employs addresses those needs” noted Clark. “Based on my experience,” stated Clark, “Maverick Angels focuses on educating and coaching entrepreneurs and giving them the skill sets and introducing them to experienced advisors needed to grow their companies and prepare for each stage of growth and investment all the way to a successful exit.” “As a result,” said Clark, “the Maverick Angels process can help innovative companies in Utah to overcome the effects of the current economic situation and grow to become the giants of tomorrow.”
Frank Maughan, a National Director of CBIZ MHM who is resident in the Salt Lake office, is pleased to see Maverick Angels come to Utah. “Maverick Angels is a great organization with a proprietary model to help Utah companies succeed by providing opportunities for them to raise investment capital. This is benefitting Utah companies and ultimately will contribute to the economic development of the State of Utah. It is exciting for us at CBIZ MHM to be associated with Maverick Angels.”
“Utah is the source of tremendous innovation and entrepreneurial activity,” said Bill Barber, President of Maverick Angels, based out of Southern California. “The business, investment and entrepreneurial community, together with several of the colleges and universities in the State of Utah, have welcomed us with open arms. It is a privilege to be involved in the pioneering spirit of the Utah innovation engine.”
Maverick Angels also continues its international growth and expansion in partnership with the Italian Bank Intesa SanPaulo. In January 2011, Maverick Angels supported Intesa Sanpaulo in operating an Entrepreneur Boot Camp and an Arena Meeting in Milan, Italy and an Arena Meeting in London, England.
About Maverick Angels
Maverick Angels is a next generation angel network which takes an entrepreneurial approach to angel investing. The Group is very unique among angel investor networks in that it offers a highly acclaimed Maverick Angels Boot Camp for Entrepreneurs to pro-actively coach companies about what angels are looking for and how to grow a scalable business. Founded in 2006, Maverick Angels has established U.S.-based Chapters in Southern California and Utah. In September of 2009, Maverick angels launched a new “Start-up Initiative” in Milan via an alliance with Intesa Sanpaolo, the largest bank in Italy, to become one of Europe’s most prominent angel investment networks. The investment focus of the Network includes early-stage opportunities from any industry which provide the possibility for a multiple return on investment via, among other options, acquisitions by the Network’s close corporate alliances. Maverick Angels also actively engages in social and charitable activities designed to build camaraderie and collaboration as well as to support entrepreneurship and economic development in our communities. For more information, visit www.maverickangels.com.
About Durham Jones & Pinegar
Durham Jones & Pinegar is a top-tier Salt Lake City-based law firm that provides legal services throughout Utah and Southern Nevada. It specializes in business and finance, intellectual property, commercial litigation, bankruptcy, real estate, employment, estate planning and asset protection, and family law. It is Utah’s sixth largest law firm, and it has offices in St. George, Ogden and Las Vegas. For more information, visit www.djplaw.com.
About Maverick Angels
About CBIZ and Mayer Hoffman McCann P.C. CBIZ, Inc. (NYSE:CBZ) provides professional business services that help clients better manage their finances and employees. CBIZ together with Mayer Hoffman McCann P.C. is the 7th largest accounting firm in the nation. CBIZ is also a top 10 employee benefits and insurance provider in the United States. These services are provided throughout a network of more than 140 company offices in 34 states and the District of Columbia.
Mayer Hoffman McCann P.C. is a national and independent CPA Firm that provides financial statement audits, employee benefit plan audits, and other attest services to growing middle market companies. For more information, visit www.cbiz.com/cbizmhm-utah.
Company Contact:
D. Brent Israelsen
Maverick Angels Utah
P: (801) 376-6166
brent@maverickangels.com