A few weeks ago, innovationIOWA shared that local investors Tej Dhawan and JD Geneser are launching a new statewide venture capital fund targeting early-stage startups. 

Last summer, Plains Angels created the Plains Angels Investment Fund, which was designed so members of the angel investor could pool funds together to fund startups and diversify their investment portfolios by investing smaller amounts in more companies.

I asked Dhawan in our September interview what the future of the Plains Angels Investment Fund is in light of the new venture capital fund.

“[The Plains Angels Investment Fund] was bringing groups of investors together and giving them an easy vehicle to invest. This [new fund] very likely will supersede that. That one, we could probably retire or at least put aside. We think this will be the perfect complement to Plains Angels’ network of investors,” Dhawan said. 

Dhawan and Geneser said the new venture capital fund, the Plains Angels Early Stage Investment Fund, will fall under the Plains Angels umbrella, but the fund will be managed by them, not Plains Angels members. Plains Angels is the manager of the Plains Angels Investment Fund.