RAIN Source Capital plans to aid business owners



By Arundhati Parmar, Finance and Commerce

“…St. Paul-based RAIN Source Capital, a multistate angel network group, is finalizing a partnership with a Utah company that focuses on matching entrepreneurs with investors and lenders.

Through the revenue and expense sharing agreement, RAIN Source principals will manage the Twin Cities office of South Jordan, Utah-based Funding Universe, which hosts free events and provide services to help entrepreneurs get access to capital. Funding Universe, in turn will manage the new RAIN angel fund that RAIN Source Capital is setting up in Utah. Funding Universe is investing $100,000 to become a member in the fund. RAIN Source plans to raise a minimum of $1 million in the next couple of months for that fund.”

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