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Rain Source Capital
RAIN Source provides a suite of products and services that when combined provide synergies to successfully grow companies, provide a return to...
Rain Source Capital
RAIN Source provides a suite of products and services that when combined provide synergies to successfully grow companies, provide a return to investors and create good jobs in local communities.
General information
Firm type
Private Equity
Location
Region
North America
Country
United States
City
Saint Paul
Corporate office
419 Bush St, Red Wing, MN 55066 (Minnesota office per website); 435 Maxwell Street, Lake Geneva, WI 53147 (Wisconsin office)
Additional offices
Lake Geneva, WI, United States
Principals
Steven B. Mercil
CEO, Rain Source Capital; General Partner, Invest Northwest, LP
Sector focus
Frequently asked questions
How does Rain Source Capital source deals?
Deal flow is distributed across the firm's network of over 35 angel funds, whose 600-plus members evaluate opportunities locally. RAIN Source facilitates co-investment by sharing vetted deals among member funds, effectively creating a syndicated pipeline.
Does Rain Source Capital participate in fund commitments or only direct deals?
RAIN Source operates primarily as a manager and architect of angel funds, not as a traditional limited partner. Through its parallel vehicle, Invest Northwest, LP, it makes direct equity investments in middle-market and growth-stage companies.
What is the firm's known posture on co-investments?
Co-investment is embedded in the firm's model. Member funds regularly share investment opportunities and can participate in each other's rounds. The firm states it has helped portfolio companies raise over $750M in follow-on capital, implying robust co-investment dynamics.
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