[Oxford, Miss.] Innovate Mississippi today announced the formation of the Oxford-Delta Angel Fund I. The Fund will immediately begin gathering investors with the goal of injecting capital into early-stage companies and foster the entrepreneurial ecosystem, specifically targeting Oxford and the surrounding Mississippi Delta region.
Innovate Mississippi Investment Director Lindsey Benefield announced the Fund’s formation during a break at the Oxford Regional Pitch Event, a precursor to CoBuilders 2023.
Opportunities abound in Oxford and throughout the Delta region, which are quickly becoming hotspots for tech and high-growth startups. With a wide range of sectors, from agriculture in the Delta to fin-tech and biomedical startups in Oxford, numerous innovative ideas are ready to be nurtured and launched throughout the region.
“We are excited to be helping pull together investors from the area to form another regional fund,” said Tony Jeff, president & CEO of Innovate Mississippi. “These funds are great for investors and an excellent way to encourage entrepreneurs coming out of Ole Miss and the region. Even investors not currently in the area can participate in local deals through these funds.”
The Oxford-Delta Angel Fund’s timing may be fortuitous, as it can take advantage of the new federal State Small Business Credit Initiative (SSBCI) program – which offers matching dollars for qualifying private investor funds, thus doubling the impact of such funds. Innovate Mississippi anticipates that the federal government will approve Mississippi’s SSBCI program starting this summer.
The Securities and Exchange Commission requires that only accredited investors participate in angel funds such as the Oxford-Delta Angel Fund. Innovate Mississippi will work through the leadership group and the Mississippi Angel Investor Network to find other accredited regional investors. The team will hold meetings in July and August for accredited investors.
The Fund will likely begin inviting pitches from entrepreneurs early in 2024. For more information on participating as an investor in the Oxford-Delta Angel Fund, contact Lindsey Benefield at lbenefield@innovate.ms. Companies that want to pitch to investors should begin now by visiting Innovate Mississippi’s website at www.innovate.ms/for-entrepreneurs/
Innovate Mississippi is a nonprofit organization with the mission to drive innovation and technology-based economic development for the State of Mississippi. Visit www.innovate.ms to learn more.
