Distinctly Montana Magazine

D I S T I N C T L Y M O N T A N A S P R I N G | 2 0 1 5 1 9 Gal The fund also invested in Pacinian, which has been its best deal to date. The company's tactic TouchPad™ technology helped broaden customer interface solutions by way of a razor-thin keyboard and has, so far, offered investors the greatest return on the dollar. "We invested $250,000 for a stake in that company," she says. Founded in 2004, the company was later purchased for $30 million, giving inves- tors in the fi rst Frontier fund a great return. A fund needs to have two or more of those type returns, she says, to be considered truly successful. Angel investing isn't just about fueling the dreams of big ideas, however. Marchi points out that it can also be the riskiest type of investment. Thus, it is also among the most regulated to ensure only those that are fi nancially able, accredited investors assume the risk of loss. "There are a lot of rules imposed by the Securities and Exchange Commission," Marchi said. From the moment a fund attracts a fi rst investor to write a check, she says, the clock begins ticking and if the fund's capital requirements aren't met within a certain timeline, the money must be returned. Stringent qualifi ers, including specifi c net worth requirements, are in place to prevent average and other earners from losing their net worth in a single fund, and guard against predatory funders. Investments target proprietary technology, such as software, chemical compounds, solutions to problems, and things that make life better. Angel investors don't typically seed ideas. Products must already be developed and being used in the marketplace. The fund fi nds investments through a variety of methods, including word-of-mouth recom- mendations from angels, 'pitchfests', business incubators like The Launch Pad at Montana State University, at the University of Montana, or through other investment syndicates. The Frontier Angel Fund II Web site says it will fund companies "with a desire and plan to scale and exit"—creating expedience and profi t. But for Marchi, it's also about drawing global attention to Montana and its enterprise. "We want to focus on wealth and wage creation," she says. "We want that money to stay here in Montana." Software company RightNow Technologies, founded in Bozeman in 1997 without initial venture capital, was purchased by Oracle for $1.5 billion in 2011. Marchi says it's a great example of a com- pany born here, which remains here, and continues to pay top wages that benefi t Montanans. Marchi is among a growing number of women across the United States with both the capital and the business acumen to bank on entrepreneurial ventures. In 2012 Forbes reported that women angels represented nearly 22 percent of the angel market – a signifi cant increase from 2011 fi gures of 12 percent. "From the start, I was adamant about having women investors involved—it's been a strong strategic focus of mine," she says. Every fund across the United States agreed that having more than one woman in the room was important, she says. Women are different decision-makers than men. Women also buy and value different products. In Fund Two, Marchi says she has seen many more couples interested in angel investing and a number of couples who own units together and individually. Frontier Fund II had its initial close in December 2014. To learn more about the fund, or angel investing, contact Liz Marchi: liz@frontierangels.com. "From the start, I WAS ADAMANT AbOuT hAvING WOMeN INveSTORS INvOLveD—IT'S beeN A STRONG STRATeGIC fO CuS Of MINe," She SAYS. eveRY fuND ACROSS The uNITeD STATeS AGReeD ThAT hAvING MORe ThAN ONe WOMAN IN The RO OM WAS IMPORTANT, She SAYS. D I S T I N C T L Y M O N T A N A S P R I N G | 2 0 1 5 1 9 Gal must already be developed and being used in the marketplace. The fund fi nds investments through a variety of methods, including word-of-mouth recom- mendations from angels, 'pitchfests', business incubators like The Launch Pad at Montana State University, at the University of Montana, or through other investment syndicates. The Frontier Angel Fund II Web site says it will fund companies "with a desire and plan to scale and exit"—creating expedience and profi t. But for Marchi, it's also about drawing global attention "We want to focus on wealth and wage creation," she says. "We want that money to stay here Software company RightNow Technologies, founded in Bozeman in 1997 without initial venture capital, was purchased by Oracle for $1.5 billion in 2011. Marchi says it's a great example of a com- ventures. In 2012 Forbes reported that women angels represented nearly 22 percent of the angel market – a "From the start, I was adamant about having women investors involved—it's been a strong strategic focus of mine," she says. Every fund across the United States agreed that having more than one woman in Women are different decision-makers than men. Women also buy and value different products. In Fund Two, Marchi says she has seen many more couples interested in angel investing and a number of couples who own units together Frontier Fund II had its initial close in December 2014. To learn more about the fund, or angel investing, contact Liz Marchi: liz@frontierangels.com. "We WANT TO fO CuS ON WeALTh AND WAGe CReATION," She SAYS. "We WANT ThAT MONeY TO STAY heRe IN MONTANA." LORI GRANNIS has written features for many national publications, includ- ing Shape, Oxygen, and Flex Magazine, as well as regional ones, including Missoula Magazine, 406 Woman, and Clark Fork Journal. A former columnist for the Missoulian for six years, she currently writes news stories for Thomson-Reuters from her Montana home in Missoula. Reach her by e-mail at: llgrannis@gmail.com. Liz Marchi speaks to entrepreneurs at UM for Innovate Montana. A Black Angus from Marchi's herd

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