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ACE-Net to Privatize by Sept. 1
The Angel Capital Electronic Network (ACE-Net) will be privatized by September 1, 2000. The Internet-based listing service for growing companies and angel investors has been run by the U.S. Small Business Administration (SBA) Office of Advocacy.
A privatization team representing ACE-Net regional partner organizations finalized plans in May for making the transition from the SBA. Job descriptions of future staff positions are being drafted. The privatized ACE-Net is expected to provide additional services to registered angel investors, such as educational tools, research, and training.
When launched in September 1995, ACE-Net was to be early entry into web-based investor-business matching for capital. Unfortunately, the effort was hampered by federal bureaucracy and regulations, according to ACE-Net supporters.
One of ACE-Net’s accomplishments has been to help streamline investment offerings across state lines, greatly reducing the regulatory burden of securities filing. To date, 40 states have amended their securities laws to allow streamlined, web-based equity capital investment through ACE-Net, which accredits potential investors.
Currently there are 48 public, quasi-public, non-profit, or university-based organizations across the country serving as ACE-Net Network operators. Links to each of these organizations and more information on ACE-Net can be found at: https://ace-net.sr.unh.edu/
Our thanks to the Kansas Technology Enterprise Corp for alerting us to this story through their newsletter, KTECology.