SOURCE: Keiretsu Forum

August 07, 2008 17:00 ET

AspenAir Raises $500K Convertible Note

Bay Area Keiretsu Forum Members Invest in Local Air Filter Manufacturer

SAN FRANCISCO, CA--(Marketwire - August 7, 2008) - Keiretsu Forum, the world's largest angel investment community, announces its members' investment in AspenAir, a Martinez, CA-based company that produces and markets breakthrough Electronic Air Filter products.

After presenting to all four Bay Area Keiretsu Forum chapters in the East Bay, North Bay, San Francisco, and Silicon Valley, AspenAir successfully raised $500,000 of convertible note funding towards its Series B funding goal of $2 million. This funding will allow AspenAir to expand its sales force, target its marketing efforts, and enhance its website.

"The Keiretsu Forum is an amazing community of established angel investors that come together each month to help raise capital and grow emerging companies," said AspenAir CEO Michael Gunion. "I would recommend the process to other entrepreneurs, as long as they are well prepared when they enter the process."

Keiretsu Forum offers a structured approach to private equity investing by providing a forum for like-minded business leaders to work together and assess investment opportunities and then make individual investment decisions.

About Keiretsu Forum

With 17 chapters and over 750 accredited investor members on three continents, Keiretsu Forum (www.keiretsuforum.com) is the world's largest angel investment network. Keiretsu Forum members provide early-stage capital in the range of $250k-$2 million to high quality, diverse investment opportunities and collaborate in the due diligence, but make their own individual investment decisions.

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