SOURCE: San Joaquin Capital

San Joaquin Capital

February 09, 2016 07:30 ET

Fresno Business Leaders Team Up to Start Venture Capital Firm Specializing in Technology Companies Based in California's Central Valley

FRESNO, CA--(Marketwired - Feb 9, 2016) - Three Fresno-based business leaders announced today the creation of a regional venture capital firm, San Joaquin Capital. The first of its kind in the area, the firm will specialize in providing local technology companies with the money needed for early stage development. Specifically, San Joaquin Capital will focus on Pre-seed, Seed, and Series A rounds of financing for high-growth potential, technology startups in the $100,000 to $5,000,000 range.

San Joaquin Capital is led by Eric Hanson, a Fresno-based orthopedic surgeon who co-founded Sierra Pacific Orthopedic Center; along with Tim Goetz, a Fresno-based technology entrepreneur; and Randel Mathias, a Fresno-based businessman. Hanson and Goetz have proven to be adept at creating successful ventures. In particular, Hanson was a pre-seed Angel investor for Aplos Software, the Software as a Service (SaaS) company founded by Goetz in 2009. Headquartered in Fresno, Aplos Software has grown rapidly and is a model for start-up technology companies in the Central Valley.

"Access to funding is a pivotal piece of the technology startup ecosystem in and around Fresno. It can transform a side project into booming business," said Goetz. "We want to do something big here by pairing our region's fantastic technology entrepreneurs with capital. We have the knowledge and experience to help them reach their goals. We want to take part in the movement and fuel the technology sector of the Central Valley."

The high growth potential of these types of startups could produce many jobs in the Central Valley since about two-thirds of all new jobs are created by young firms [Economic Development Research Partners (EDRP)].

San Joaquin Capital's first fund is the Whitney Fund, a $4 million Series A Fund with Aplos Software as the sole recipient. The VC firm only recruited investors that are based in California's Central Valley and successfully funded the $4 million in less than three months.

"Aplos is a prime example of what can happen when an entrepreneur receives the backing it needs -- and you don't need to be in the Silicon Valley to accomplish it," said Hanson. "Aplos is just the start. There are many young entrepreneurs with terrific ideas, and some serious talent in the Central Valley. We hope to connect them to financial resources so their startups can gain traction."

The Whitney Fund is fully funded and closed to new investors, but San Joaquin Capital is preparing for its second fund and actively seeking investment partners and proposals from entrepreneurs that are based in Fresno or the surrounding area.

For more information about San Joaquin Capital, visit www.SanJoaquinCap.com.

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