Wednesday, April 16, 2008

NCN investment milestone ahead

Nashville Capital Network's Sid Chambless has been hard to catch in recent days, and he blamed it partly on the fact he's been working on closing the first two deals done under NCN's Angel Fund I. There will probably be 6 to 10 additional deals during the life of the Fund after these next two -- and that's in addition to deals that might be done separately via NCN's network of nearly 60 independent Angels. Chambless makes clear that after nearly five years as NCN pivot-man, he's more excited than ever about his role -- which has allowed him the catbird seat in deals done in harness with VCs and others, with aggregate value at more than $34 million. NCN also recently added Baker Donelson attorney Steve Wood to its board. For the full update, click here.

Related: Over at Belmont, Jeff Cornwall blogs a report showing Angel investors have turned even more cautious, read about it here. Also, Venture-backed IPOs and M&A activity are at a relatively low ebb, according to a recent release from the National Venture Capital Association.

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