RINES ANGEL FUND 2017 - 2018 Annual REPORT

Letter From co-managing directors

During the academic year, we made meaningful progress in further establishing the Rines Angel Fund as an outstanding organization that engages closely with the university and the entrepreneurial ecosystem. For three years, the Fund has grown and developed to offer a fantastic experiential learning opportunity to students. This year was focused on strengthening our processes and streamlining workflows while still seeking quality deals to evaluate.

This is exemplified by efforts to make our due diligence research process more straightforward and consistent, including the introduction of a comprehensive due diligence report template. We have sought new ways for members to share thoughts on deals, too, which has contributed to an increasingly collaborative environment that also incorporates independent work. These initiatives have proven to shorten the due diligence timeline and maximize the efficiency of one of our primary functions.

Further, we continue to strive to be a well-known and reputable private-equity fund. We actively engage with the startup community online through our website and LinkedIn as well as our broad professional networks. This year we launched Rines Insights, a blog completely managed by the Fund that is focused on various topics related to entrepreneurship and investing. Rines Insights allows students to share their knowledge, perspective, and scholarship through articles posted to our website. During the academic year, we had greater than 2,500 unique visitors navigate to the website—in total, individual page views exceeded 12,000. We look forward to continuing to deliver quality and relevant information on the industry through this outlet.

The class structure of the Fund continues to allow for interdisciplinary discussion among students with diverse academic backgrounds—this year we increased the number of students from science and engineering backgrounds, enhancing our due diligence process and expanding the Fund’s skillset. We introduced twenty new members to the fund, had ten companies pitch to the Fund, heard insight from eight guest speakers, and completed two successful presentations to the Investment Committee.

Our portfolio is growing! After much anticipation and logistical coordination by Principal Nick Stuart, the due diligence team for local startup Datanomix recommended and secured an investment. Datanomix is a manufacturing analytics platform that offers engineers and business leaders insights from machine data to improve efficiency of operations. It was the second-place winner in the NH High Tech Council’s 2017 TechOut competition. We are thrilled to be involved with this great company and to see our portfolio diversified. We have also closely observed our first investment, Platelet BioGenesis, and receive frequent updates from the management team. The company is doing groundbreaking biomedical work and clearly continues to see growth and success.

At the conclusion of the academic year in May, the Rines Angel Fund was recognized as the Paul College Student Organization of the Year for our efforts to create an outstanding group that benefits members and the Paul College community as a whole. This was an exciting achievement for the Fund, as it is a testament to our recent successes that are sure to continue into the future.

Thank you to everyone in the Fund for a wonderful year—it is amazing to work with each of you. We are appreciative of the perspective each student brings to the Fund, and are thankful for the time and insight offered by our mentors and Investment Committee members. It was rewarding to work with members of the Executive Committee, as well—we are pleased with what we accomplished this year. We would also like to thank Dean Merrill-Sands for her continued support and enthusiasm for the Fund. Thanks, also, to Professor Jeffrey Sohl and Laura Hill—your leadership, expertise, and coordination are central to the Fund’s success. Our greatest thanks goes to Mel Rines—we are immensely grateful for the opportunity you have provided through your generosity.

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We’ve greatly enjoyed serving as Co-Managing Directors this past year, and look forward to the continued growth and development of the Fund. We are confident the Fund will continue to see success—we were impressed by the applications we received during our most recent application cycle, and look forward to welcoming seven new Associates in the fall semester. It is an incredible experience to invest real money in companies as undergraduates, and to provide real value to investors. As the Fund continues to grow, develop, and flourish as an organization, we know that it will continue to contribute to the professional development and personal growth of its members as well as to the success of innovative ideas and companies.

Best regards,

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Zachary Dresser ‘19 and Andrew Ware ‘18

Co-Managing Directors, 2017-2018


Timeline


the year at a glance

 
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the team


Historical Statistics

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