Unmask the VC #2: Pete Birkeland




Pete Birkeland is Chief Financial Officer of Rain Source Capital.  He is responsible for managing the financial reporting and accounting for RAIN Source Capital and coordinating the support functions to the RAIN Funds. He also works on due diligence tasks for for the various fund investments. Although Pete is not a VC, we consider him highly relevant to the topics at hand and use the acronym VC as a blanked label to describe those, like Rain Source, who operate in the private equity arena.

RAIN Source Capital is a multi-state network of RAIN funds that works with angel investors who are interested in supporting growing companies. They help bring together like-minded angel investors to form individual RAIN funds and then provides these funds with a process for due diligence, legal templates, management support, access to deal flow and other resources.

RAIN funds share expertise, deals and experience between and among their multi-state network to support growing companies throughout the areas they serve: 23 funds located in Minnesota, Iowa, North Dakota, South Dakota, Montana, Idaho, Washington, Oregon and other areas.

Starting off the conversation is a bit about the upcoming Small Business Investment Tax Credit/Angel Investment Tax Credit/Saltzman Bill. You can show your support for this bill on behalf of Minnesota Technology Startups through a form located here and also learn about the upcoming hearing on Feb 9th at the state capital.


  • http://openswipe.com Casey Allen

    It’s a rare event I get excited about hearing a CFO being interviewed, but this was undeniably good.

    Thanks, Pete, for breaking down nicely an otherwise dull and cryptic topic like the angel world for the community.

    Here’s the Fred Wilson that Pete mentions: http://j.mp/9R9Gzh For those that wonder why MN isn’t more of a tech hotbed than it is, this is a must read, as is Brad Feld’s post-in-parallel here: http://j.mp/bCdaFH

    Both VCs (Wilson-NYC/Feld-CO) and both have to put up with people (read: entrepreneurs) wondering why NYC (and Chicago, and Philly, and Salt Lake…) aren’t more like The Valley. These two posts elaborate a lot. As with both of these blogs, the real value is in the comments, so read up.

    Well done, gentlemen.