Venture Capital in USA – Western Pennsylvania Adventure Capital Fund

The Western Pennsylvania Adventure Capital Fund (WPACF or Fund) invests in early stage, mostly technology companies in southwestern Pennsylvania. The WPACF invests in companies that have the potential within five years to achieve annual sales of at least $5 million (typical investments to date have the potential for $25 million of annual sales within five years; also see Investment Criteria). The Fund seeks a return on its invested capital in excess of 30 percent per year. The Fund is a public company (shares can be freely bought and sold). The Fund raised about $2.1 million in its initial offering in July of 1997. The Fund has over 80 shareholders, many of whom co-invest with the Fund on the same terms as the Fund. WPACF may also co-invest with other investors and venture capital firms. WPACF typically invests $100,000 initially. With the Fund\'s shareholders and others, the typical investment round is $500,000 to over $1 million. A number of companies have then raised more capital in subsequent financing rounds. © Western Pennsylvania Adventure Capital Fund