SOURCE: Keiretsu Forum

December 06, 2007 12:00 ET

Keiretsu Forum Members Invest in Puroast Low Acid Coffee

Organic, Fair Trade Low Acid Coffee Company Closes Second Seed Round

SAN FRANCISCO, CA--(Marketwire - December 6, 2007) - Keiretsu Forum, the world's largest angel investment community, announces its members' investment in Puroast® Low Acid Coffee, the Woodland, California-based company that manufactures the world's only organic, fair trade coffee with 50% less acid than mainstream coffee brands.

After presenting to all three Bay Area Keiretsu Forum chapters at the August Northern California Summit meeting and to the Keiretsu Forum chapter in Denver, Puroast® Low Acid Coffee closed its second stage seed round and raised $700,000 of equity and debt financing, with options for an additional funding in the first quarter of 2008. Keiretsu Forum members from the three Northern California chapters in the East Bay, Silicon Valley, and San Francisco, and the Denver chapter staked the entire equity round. This funding will enable Puroast® to build customer awareness, expand its plant capacity, and develop new business.

"Keiretsu Forum is an unbelievably efficient and effective way for an early-stage company to receive both the funding, connections, and resources needed to take a company to the next level. The Puroast® experience couldn't have turned out better," said Puroast® CEO Kerry Sachs. "In just two days of presentations and a few months of follow up, we achieved our funding goal, successfully navigated through the extensive Keiretsu Forum-led due diligence process, added two quality members to our advisory board, and established strong messaging about the mass market opportunity for Puroast® Low Acid Coffee."

Keiretsu Forum provides a structured approach to private equity investments, allowing like-minded business leaders to work together and assess investment opportunities and then make individual investment decisions. In this instance, Keiretsu Forum members from four different West Coast Chapters invested in Puroast® Low Acid Coffee.

"As a recent member of Keiretsu Forum, I have been impressed by the talent of the members and the broad spectrum of the deal flow that we see each month," said Barry Hotchkies, the Keiretsu Forum due diligence team leader. "Puroast® had all the attributes of a great investment opportunity for Keiretsu Forum members with its well-defined market, solid management team, and sales in a number of supermarket chains."

Hotchkies and fellow Keiretsu Forum member Max Shapiro recently joined the Puroast® advisory board. Hotchkies is the principal of eCFOs, LLC and has an extensive financial analysis background as CFO of a number of public and private companies. Shapiro is the founder and CEO of PeopleConnect, a full service high tech executive search firm specializing in the recruitment and placement of experts in business development, finance, human resources, marketing, sales, as well as in scientific and technical positions.

"Barry and Max's skills in financial planning and raising capital have greatly assisted the company as it brings its financial capabilities in line with its rapid revenue growth and market expansion," said Sachs.

About Keiretsu Forum

With 15 chapters and over 700 accredited investor members throughout the world, 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 individual investment decisions.

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