SOURCE: Keiretsu Forum

July 11, 2007 13:00 ET

Keiretsu Forum Portfolio Company, PakSense, Raises $4.16 MM in Angel Funding

SAN FRANCISCO, CA--(Marketwire - July 11, 2007) - Keiretsu Forum, North America's largest angel investment community, today announced its members' investment in Idaho-based PakSense, a company that offers a temperature sensing label product line.

PakSense closed its Series A angel round, raising $4.16 million of equity funding. Keiretsu Forum members from the Northern California, Seattle, and Denver chapters staked the round with $1.27 MM in angel funding, which will enable PakSense to further develop and market its TXi Smart Label technology.

PakSense TXi Labels allow manufacturers, distributors, and retailers within the perishable goods industry to monitor and store accurate time and temperature data for up to eight weeks to determine the quality and safety of food, pharmaceutical, medical and other environmentally sensitive products at a very low cost.

"The association that PakSense has enjoyed with the Keiretsu Forum has proved to be instrumental in our company's growth," said PakSense Chairman and CEO Thomas Jensen. "They have provided an environment for introductions, not only to investors, but also to business and industry experts, many of whom have stepped up to help our company in different ways."

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 seven different West Coast Chapters made investments in PakSense.

"PakSense is an innovative company that received such tremendous traction in our four Northwest chapters that they presented to and received additional funding from our three Northern California chapters," said Keiretsu Forum founder and CEO Randy Williams. "This is a prime example of how our Keiretsu Forum network of angel investors shares deal flow among chapters to the benefit of both our members and the portfolio companies."

About Keiretsu Forum

With 12 chapters and over 500 accredited investor members throughout the world, Keiretsu Forum (www.keiretsuforum.com) is the largest North American angel investment network. Keiretsu Forum members have invested over $130 MM in 145 companies and provide early-stage capital in the range of $250K-$2MM to high-quality, diverse investment opportunities and collaborate in the due diligence, but make individual investment decisions.

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