One of the distinguishing characteristics of the Jefferson Corner Group is that unlike some other member-managed funds, there will be an administrator working under the guidelines set by the membership to oversee due diligence, review business plans, and monitor portfolio companies. Spinner Technologies will serve as administer and provide these services to the Jefferson Corner Group membership.
The Jefferson Corner Group has achieved significant progress in recent months. In addition to establishing the group, Spinner has recruited a number of founding angel investors. We are very pleased that the University of Virginia itself is one of the founding members. We look forward to closing the Fund shortly and beginning making investments.