American Angel Looks For New Grounds In Sweden

By Karin Karlsson, Makk Communications, August 2008

Private Capital Network (PCN), California’s fastest growing angel investor association was formed in early 2007. Since then it has had an investment increase of 250% a year. This “21st century angel association” sees themselves as the first angel route in the U.S. that promotes participation from foreign countries, starting with Sweden, Canada, the UK and Ireland.  “Opportunities aren’t limited by national borders as long as there is a solid legal system in place,” says Doug Pennington, Executive Director, PCN.

When he travels to Stockholm in September for SACC-USA’s Edays, Pennington goes with enthusiastic optimism. “Since going abroad is relatively new for an angel association, I’m looking forward to the exposure to so many new companies and I’m hoping a few of them would like to come and present to our chapters in Southern California,” explains Pennington.

Edays is created so that companies can better and more easily find business partners. “Companies really see a value of participating and utilizing our services,” says Gunilla Girardo, President, the Swedish-American Chambers of Commerce, USA (SACC-USA).

After being blown away by the quality of the companies and the participation at Edays San Diego in April of this year, Pennington didn’t hesitate when the invitation came for Edays Stockholm. “Money doesn’t care what industry it’s in. Our members have a positive look on international investments and are very anxious to see what’s in Sweden,” remarks Pennington.

As an active speaker on angel investment topics, Pennington will be a panelist at Edays Stockholm on the topic of “Raising Venture Capital in the U.S. and in Sweden.” Edays Stockholm will take place on September 15-16, 2008 at Clarion Hotel Sign. For more information and to register visit www.sacc-edays.org/stockholm