BoomStartup is now part of VentureCapital.org
Salt Lake City, UT (November 14, 2022) BoomStartup Accelerator, the leading early-stage growth and investment program provider, has a new home under the umbrella of non-profit entrepreneurship organization VentureCapital.org. Assure, the nation’s largest private asset and SPV administrator, has agreed to an acquisition of BoomStartup to the non-profit.
The accelerator runs a number of startup programs to support and advance the foundations of America’s innovation economy. BoomStartup’s resources run the early-stage gamut: OpenUp provides remote, drop-in courses and expert-led sessions; RiseUp pairs founders with experts for 1-week problem-solving sprints; while AmplifyUp focuses on fundraising. Since 2021, over 11 million dollars in startup funding have been invested in BoomStartup AmplifyUp graduates.
For over a decade, Utah-based Assure has been dedicated to supporting entrepreneurs at all stages of their journey. As part of this, Assure helped shepherd and grow BoomStartup while expanding the program’s access to angel networks and venture capital funds across the country. Assure’s SPVs have been just one part of this toolkit – making it easier for founders and angels to syndicate early-stage fundraises with more investors and raise more capital. Founders raising with an SPV have raised twice the amount of money than those not using an SPV.
“Access to capital has always been core to our work and motivations at Assure. We are committed to supporting the fundraising and capital needs of entrepreneurs and their investors through new tools, technologies, and of course SPVs,” says Katie Neilsen, Co-founder and President of Assure. “As we lean more into digitizing the capital stack, we wanted to find an equally dedicated organization to lead the way on programming. Over the years, we’ve had the privilege of getting to know the team behind VentureCapital.org and couldn’t think of a better team to take BoomStartup to its next phase.”
Going forward, BoomStartup and its entrepreneurs will be able to leverage VentureCapital.org’s decades of experience and unparalleled economic development expertise. Since 1983, the organization has worked with both aspiring and seasoned entrepreneurs to create sustainable companies, lasting jobs, and new opportunities. VentureCapital.org places particular emphasis on underrepresented founders and under-served communities. BoomStartup will be integral to further expanding such work and access across the United States.
“I am beyond thrilled that starting today, two impressive and respective communities will combine to support investment preparation and access to capital for founders,” stated Tara Spalding, Chief Programming Officer at VentureCapital.org. “Now, thousands of entrepreneurs can leverage education programs, mentoring, and networking events proven over time, to supply a high-quality deal flow to investors.”
“We could not be more grateful for the generosity and the support of our partners at Assure. This acquisition will amplify the power and reach of both BoomStartup and VentureCapital.org to help entrepreneurs become investible and then connect them with capital”, said Trent Christensen, President and CEO of VentureCapital.org.
Assure is the foremost provider of Special Purpose Vehicles in the United States. It provides comprehensive structuring and administrative services for all kinds of private investors – from VCs to Angels to Family Offices – around the world. The company offers innovative software and expert support that streamlines setting up, closing and managing back-office fund administration for private asset investing. Assure’s experience and volume significantly outpaces other fund administrators. The company’s approach, which allows clients to structure and close deals faster, cheaper and with more transparency, helped pave the way for the ascendance of the “super angels,” special purpose vehicles, micro VCs and syndicates.
The company has worked with more than 2,000 clients, including AngelList, EquityZen, Forge, Tribeca Angels, LAUNCH and Bitwise, structuring and closing more than 9,000 deals with over $10 billion in assets under administration. Assure offers a full suite of services, including special purpose vehicle administration, VC fund administration, fund accounting, fund taxes, KYC/AML services, and 506(c) accreditation. For more information about Assure, visit www.assure.co.
VentureCapital.Org is a non-profit 501(c)3 organization that is celebrating its 39th year of assisting entrepreneurs. The VentureCapital.Org mission is to improve the human condition through technological entrepreneurship by helping new entrepreneurs create the next generation of industry-leading companies. Our vision is to empower emerging and diverse entrepreneurs to create technologically and commercially sustainable companies that increase high-quality jobs and new economic opportunities in underserved regions of the US. VentureCapital.Org offers educational programming for new and experienced entrepreneurs to better understand the nuances of raising investment capital. VentureCapital.Org also offers in-depth mentoring to assist entrepreneurs to develop and refine their investor presentations. Program outcomes include improved education, new investment capital, and new jobs.