Applications due Feb. 19 for paid fellowship program

Applications due Feb. 19 for paid fellowship program

RAIN Source Capital, a multistate network of angel investor groups, is taking applications for its $10,000 Ruvelson RAINmaker Fellowship program.

The fellowship offers a stipend and educational support during the senior year for a student interested in learning about private equity investing. Students get hands-on, real-world experience with entrepreneurship, small business, economic development and finance, working with local angel investors and companies in Minnesota, North Dakota, South Dakota, Iowa and Montana.

Applications and additional information are available at the RAIN Source Capital Web site or by contacting the fellowship project manager, Candace Campbell, (612) 827-7988. Completed applications are due on Monday, Feb. 19.

The fellowship honors St. Paul businessman Alan Ruvelson. Known as "Bud" to his friends, Ruvelson, 91, is an alumnus of St. Thomas Academy, the College of St. Thomas and the University of Minnesota. In 1959, he founded First Midwest Capital Corp., one of the nation’s first venture capital companies to provide funding for small companies that could not access the public markets. He is known as the “Father of Venture Capital” in Minnesota and, with a few others, founded the industry in the United States.

He also has served on boards and advisory groups at several Minnesota private colleges, including the University of St. Thomas, the College of St. Catherine and the College of St. Benedict.