General information only. This is not legal, tax or investment advice. Check the rules that apply to you with a qualified adviser.
Define local
Pick a radius, a metro area or a state. Investors who can drive to see you are different from investors who happen to live in your region but invest nationally.
Types of local investor
- Angel investors and organized angel groups
- Family offices based in your area
- Regional venture funds and accelerators
- Local business owners who invest privately
- Community-focused programs run by economic development agencies
Where to look
- Angel group member lists and pitch events
- University entrepreneurship centers and their investor networks
- Chambers of commerce and industry associations
- Local business journals, which report funding rounds
- SEC Form D filings on EDGAR, which show private offerings with an issuer address, so you can see who has raised locally
- Family office directories filtered to your city or state
Approach locally
Local investors expect to meet in person. Ask for a coffee or a site visit rather than a long call. Mention the connection that brought you to them, if there is one.
Know the rules
Rules on how you may approach investors for a securities offering differ by offering type and jurisdiction. In the US, Regulation D limits general solicitation for some offerings. Speak to securities counsel before you approach investors you do not already know.