PHILADELPHIA, Nov. 15, 2004 (PRIMEZONE) -- Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) recently launched the Minority Angel Investor Network (MAIN) -- the first and only organized network of accredited minority angel investors in the country, focused on investing in high growth minority-owned enterprises.
Coming on the heels of MAIN's official launch reception, held recently at the Pyramid Club in Philadelphia, is the network's first membership meeting and workshop on Thursday, November 18, 2004 from 8:30am to 1:30pm at The Enterprise Center in West Philadelphia. In order to focus on investor education, deal sourcing, and resource sharing opportunities, the workshop agenda will include a comprehensive overview of MAIN, and two company presentations followed by a formal review of each company.
MAIN is a collaborative initiative of BFTP/SEP and its Minority Technology Advisory Board (MTAB). Both MTAB and MAIN are outgrowths of BFTP/SEP's diversity initiative which aims to increase the number of minority-owned technology companies in Ben Franklin's investment portfolio. "Over the years, we have funded very few technology companies owned and operated by minorities. Only five percent of our current portfolio of approximately 130 companies are minority firms. We are trying to double that percentage in the near term," stated Terry H. Hicks, Vice President of Investments and Entrepreneurial Services.
MAIN has recruited 10 individual investors and hopes to have 15 members by the end of the year and make three investments in solid, potentially profitable companies within the next 18 months.
Since 1982, Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) has helped grow the region through science, technology and entrepreneurship. BFTP/SEP provides entrepreneurs and established businesses the capital, talent, and expertise they need to compete in the global marketplace. Like its namesake, Ben Franklin invests in, builds upon and delivers solutions that grow communities and create wealth by supporting today's technological ideas and tomorrow's scientific discovery.