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Industry News

Angel Network Founder Keynotes Technology Ventures Summit

Mercil offers ideas on attracting, training angels to invest in local ventures

Oklahoma Capital Investment Board. October 27, 2007

Tulsa – Steve Mercil, a pioneer in bringing angel investment opportunities, which have historically been clustered on the coasts, to the often-ignored rural areas of the central states, is coming to the Sooner state. Mercil, founder, President and Chief Executive Officer of RAIN Source Capital, is the keynote speaker for the Technology Ventures Summit in Tulsa slated for November 12-13. RAIN builds and manages a network of local, statewide, and multi-state angel funds.

Co-hosted by the Oklahoma Capital Investment Board (OCIB) and Oklahoma Equity Partners, LLC (OEP), and the Oklahoma Business Roundtable, the Technology Ventures Summit offers extensive training for aspiring entrepreneurs, and will provide the opportunity for 12 local businesses to showcase their ideas and new technologies to a group of angel and venture capitalists.

“Steve understands the importance of nurturing and growing the angel investor communities particularly within the central part of the country which sometimes takes a backseat to the east and west coasts,” said Devon Sauzek, President of the Oklahoma Capital Investment Board. “Steve’s efforts to build a network of angel funds goes hand-in-glove with our goal of offering nationally acclaimed angel investor training. The more educated angels we have in our state; the more resources Oklahoma entrepreneurs and businesses have to take their innovations to the marketplace.”

Mercil has a long history of serving as a catalyst for economic development in local communities. As director of economic development for the Crookston, MN Development Authority and president of Crookston Jobs Inc., a private development corporation, he played a key role in attracting and expanding businesses in the community. Mercil created RAIN Source Capital on the knowledge that most angel investors prefer to invest in local ventures (no more than 150 miles away), so they can play an active role in and monitor their investments. He is currently spearheading efforts to set up regional investment networks of angel investors throughout the United States. 
The summit will be held at the Downtown Doubletree in Tulsa November 12-13. Conference registration is available online at www.ocib.org/tvs.

About Oklahoma Capital Investment Board

The Oklahoma Capital Investment Board is the State of Oklahoma’s institution for building the private venture capital industry in Oklahoma. Since 1993 the Board has supported investment in sixteen venture capital funds, which in turn have attracted investment of over $100 million to Oklahoma projects. In addition, the board has supported nearly $40 million in development loans to just under 1400 small Oklahoma companies.

About Oklahoma Equity Partners

Oklahoma Equity Partners (OEP) was formed with the goal of seeking superior risk adjusted returns for its investors while expanding the supply of professionally managed equity capital available to businesses in the State of Oklahoma. OEP invests in operating companies that offer the potential for exceptional performance and long-term financial success.


Kym Koch Thompson
(405) 831-8668