Affinity Wind, LLC Announces an Investment by Saint Louis University’s Billiken Angel Network
New Capital Oversubscribes Series A Investment Offering
St. Louis, MO (PRWEB) November 22, 2009
Affinity Wind, LLC, a St. Louis based wind energy development company, today announced an investment by the Billiken Angel Network, a Saint Louis University affiliated angel capital funding network. The $300,000 Billiken Angel Network (BAN) investment was the group’s first ever investment and included a pledge by individual BAN members that was matched by one from Saint Louis University itself. The financing oversubscribed the Affinity Wind, LLC Series A Offering, and the proceeds will be used for further development of its initial 150 megawatt commercial wind energy project in Illinois.
"We are excited about BAN's decision to invest in our company and view this funding as a tremendous vote of confidence in our business concept and growth strategy," stated Trey Goede, Founder and Chief Executive Officer of Affinity Wind, LLC. "This investment allows us to accelerate our development plans, and I am thrilled by the opportunity to keep Saint Louis University involved in the business."
The project exemplifies BAN's mission of funding entrepreneurial enterprises with SLU DNA. Goede, an Adjunct Professor in the John Cook School of Business’ Management Department at Saint Louis University, began drafting the Affinity Wind, LLC business plan on campus in 2007. Goede offered his wind energy vision to students as a potential business idea for course work related to SLU’s business planning course. After working as a mentor with an MBA student on the project for a semester, Goede formally launched Affinity Wind, LLC shortly thereafter.
Fully formed for less than one year, the Billiken Angel Network is the brainchild and entrepreneurial passion of founder, Jerome Katz, Professor and Coleman Foundation Chair in Entrepreneurship of SLU's John Cook School of Business.
"I wanted to create something to support the extraordinary business ideas and plans that were coming out of our entrepreneurial students and alums," said Katz. "BAN allows accredited angel investors (most of whom are SLU alums) to invest in new businesses and the University has generously agreed to match funds." "Affinity Wind was the perfect fit for our first investment, and we look forward to great things from Trey and his team in a very exciting industry."
“Working with the Billiken Angels was definitely a positive business experience,” said Goede. “Affinity Wind has already benefitted from the angels' experience level, and we look forward to their ongoing involvement.” Added Affinity Wind’s Chief Financial Officer, Jeff Sanders, “BAN’s investment oversubscribed our Series A Offering, which represents a substantial achievement in what is a very challenging environment for new companies to raise equity capital.”
About Affinity Wind, LLC
Affinity Wind, LLC was formed in 2008 and is an independent wind energy company, focused exclusively on the development, ownership, and management of wind energy projects. Affinity's initial project is a proposed state-of-the-art, 150 megawatt utility scale development in Illinois. Affinity expects the Illinois project to be the first of several similar wind energy projects that it will develop over the coming years throughout the Midwest. For more information, visit www. affinitywind. com.
About the Billiken Angel Network (BAN)
BAN is a part of the University’s Entrepreneurship Program in the John Cook School of Business, and has access to the resources of the University, including funds for co-investment. The organization is particularly interested in “the deals that make a difference” for our economy, our region, our investors and our entrepreneurial alumni. Started in 2008, our goal as investors is to provide infusions of expertise and capital to firms that show promise to make a difference for our economy and our region. We look at firms in all industries and all stages, not just start-ups. However, the firm or start-up must have SLU DNA. This means firms owned or being started by current or former SLU students, current or retired faculty or staff, or firms using intellectual property licensed from Saint Louis University. Our goal as a network is to make a difference through education and advice to all the current and future businesses in the region. We draw on an unmatched set of resources including SLU’s Entrepreneurship Center, the Habitat for Neighborhood Business, SLU’s nationally ranked Entrepreneurship Program, the John Cook School of Business, and the other resources of Saint Louis University. Visit our website at www. billikenangels. com.
About Saint Louis University
Saint Louis University is a Jesuit, Catholic university ranked among the top research institutions in the nation. The University fosters the intellectual and character development of more than 12,700 students. Founded in 1818, it is the oldest university west of the Mississippi and the second oldest Jesuit University in the United States. Through teaching, research, health care and community service, Saint Louis University has provided one-of-a-kind education, leadership and service for 191 years.
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