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DEVELOPMENT PHASE Mi INVESTMENT STRUCTURE <br /> In order to offset risks associated with any I The Anoka County Capital Fund will strut <br /> specific development phase,Anoka County 0.. ture investments to provide necessary levels <br /> Capital Fund's portfolio will attempt to ei of return,without negatively impacting a <br /> • encompass the entire spectrum of develop- company's potential. The price, ownership <br /> ment phases excluding seed investments. and exit that the Fund negotiates will be <br /> The following definitions of development iNg based on both the anticipated return poten- <br /> stages apply: tial and the perceived risk associated with <br /> Mil• Start-up Investments- Company has that investment. The Anoka County Capital <br /> prototypeFund is a longer-term investor with exit from <br /> completed <br /> development and the investment sometimes occurring <br /> market research, and seeks to begin between 5-10 years. <br /> manufacturing, marketing and sales. <br /> • Expansion Investments-Existing LEVEL OF RETURN <br /> business seeks to expand into new The Anoka County Capital fund has set a <br /> markets, add product lines, increase 11111gi. minimum portfolio objective of generating a <br /> manufacturing capacity, or apply new or level of return of not less than 15%. <br /> existing technology to new processes or <br /> products. tiN EVALUATION <br /> • Buy-outs- Management or employee Recommendations regarding specific <br /> groups seeking to acquire a going investment opportunities will be based on an <br /> concern in situations where the result extensive evaluation of: <br /> of an Anoka County Capital Fund's in • Compatibility with the Fund's <br /> investment will be to create or retain strategies, policies, and procedures <br /> • eligible employment opportunities. • Growth potential <br /> • Other-Opportunities • Management <br /> which Fund . product uniqueness <br /> Management and the Investment • Market <br /> and Technical Advisory Committees • Competition <br /> deem appropriate. • Financing requirements <br /> INVESTMENT POOLS <br /> The Fund will consider making invest <br /> ments through investment pools. An invest- <br /> ment pool is a group of individuals and orga <br /> nizations that have agreed to provide capital 11111111 <br /> for investments to be made in a given geo- <br /> graphic area. The pools will use a coordinatIiiil <br /> - <br /> ed process to discover, evaluate, mentor, and <br /> monitor investments made by the pool. The 83 <br /> purpose of regional investment pools is to <br /> improve an area's capacity and competence <br /> to deliver investment when and where it's <br /> needed. <br /> .„,.„:„„„,; <br /> m ........................ <br /> 3 .:::::.,.:.•:...:.:..,..•,....:...•....•...,...,. <br />