New Site Provides $250 Million Alternative to Venture Capital Firms

Provo, UT – Entrepreneurs hunting for start-up money now have a $250 million dollar alternative to venture capital.

More than 250 wealthy business investors are now using FundingUniverse.com to get the inside scoop on the next big thing. Combined, they have more than $250 million dollars to spend on promising start-ups.

FundingUniverse.com is an online meeting place where entrepreneurs looking for start-up capital may submit their business plans to investors in their home states. Entrepreneurs register on the site and upload their business plans. Angel investors then visit FundingUniverse.com and find businesses to invest in. At no point are the investor or entrepreneur charged for any services provided by FundingUniverse.com.

“Two hundred and fifty million dollars is certainly a fantastic milestone, but this is only the beginning,” said Paul Allen, one of the site’s founders. “We are working with angel groups and other investment groups to bring more money to the table for worthy start-ups.”

“Before FundingUniverse.com came along we gathered deals onto our own private website, exchanged comments via email and voted via email," said Scott Frazier, member of the Utah Angels, Utah’s most active angel group. "Now we do all this in one quarter the time."

FundingUniverse.com was founded by Internet entrepreneur Paul Allen (no relation to Microsoft’s Paul Allen) and former Novell General Counsel David Bradford earlier this year. Their creation has helped entrepreneurs meet dozens of angel investors throughout the nation this year.