After more than 25 years as a successful venture investor in Southeastern U.S., Noro-Moseley is expanding in Arkansas
“Part of Arkansas's appeal is the state's traditionally limited access to venture capital,” Noro-Moseley Partner Kathy Harris said. “We have a history of being able to go into underserved new markets and find opportunities. We see a lot of the same ingredients for success in Arkansas that we've seen in states such as Tennessee and North Carolina.” Noro-Moseley was a Gold Sponsor of the 2008 Arkansas Venture Conference hosted two weeks ago at the Peabody Hotel in Little Rock. As such Noro-Moseley was available to meet some of the state's entrepreneurs and discuss venture capital opportunities with them.
AIF invests in proven, professionally managed venture capital funds that in turn make risk capital more accessible to promising Arkansas firms. AIF made a $5 million commitment to the Noro-Moseley VI in April 2008. The AIF is an Arkansas Development Finance Authority program.
Noro-Moseley has begun deal prospecting in earnest this year, with visits to both Little Rock and Fayetteville, resulting in conversations with “several local entrepreneurs,” according to Harris. Mike Smith, Jr., a former investment banker and well-known Arkansas business advocate, has been retained by Noro-Moseley to help source local opportunities
“We're seeking to invest in technology with an emphasis on financial, media, and software; healthcare with an emphasis on services, IT, and devices; and, tech-enabled business service industries,” Harris added. “Our team has been involved in venture capital investing since 1983. We're looking to commit $3 million - $8 million over the investment lifespan to early stage/early growth stage companies.”
Though Noro-Moseley has not yet invested in any Arkansas companies, the firm is anxious to hear from Arkansas entrepreneurs, Harris noted. “We've closed eight investments to date in Fund VI, so there's plenty of dry powder for more investments,” she said. “Please call us or Mike Smith with any investment opportunities you have,” she said. “We're ready to hear from you and are looking forward to our first Arkansas investment.”
Snapshot: Noro-Moseley VI
Since 1983, Noro-Moseley has been an active investor in the Southeast United States. Noro-Moseley VI held a first close in 2007.
Regional Focus
Noro-Moseley VI focuses on the Southeast United States, including Arkansas.
Investment Focus
Noro-Moseley VI commits $3 million - $8 million over the investment lifespan to early stage/early growth stage companies.
Sector Focus
Noro-Moseley VI seeks to invest in:
• Technology (emphasis financial, media, and software)
• Healthcare (emphasis services, IT, and devices) and,
• Tech-enabled business services industries.
Contact
Kathy Harris, Partner
4200 Northside Parkway, NW
Atlanta, GA 30327-3054
Tel. 404-233-1966
Mike Smith
501-954-9402
About the Arkansas Institutional Fund
The Arkansas Institutional Fund (AIF) is a program of the Arkansas Development Finance Authority that focuses on strengthening the venture capital network in Arkansas and promotes economic growth within the State.
About the Arkansas Venture Forum
The goal of the Arkansas Venture Conference is to bring key resources together to help advance promising Arkansas and regional companies. The conference provides an opportunity for Arkansas's aspiring rural and urban entrepreneurs to meet other successful entrepreneurs, angel investors, and a wide range of professionals with knowledge of how to match good ideas with development capital. Conference participants have access to groundbreaking research, emerging technologies information, and leaders of high-growth companies in Arkansas.
Additional information about the Arkansas Venture Forum and Arkansas Venture Conference is available at www.arkansasventureforum.com or by calling (800) 216-7237.
