Members of the Boise Angel Alliance participated in a $500,000 private stock offering by Hailey-based Prosperity Organic Foods Inc. Alliance members helped Prosperity design the offering, introduced the company to other “angel” investor groups throughout the country, and invested their own money.
Angel investors are individuals who invest their own money and expertise in early-stage private companies.
“The Boise Angels have not only helped finance my business, but their expertise in food branding, marketing, packaging, production, and distribution has been invaluable to me,” Cygnia Rapp, CEO of Prosperity, said in a release from Boise Angel Alliance.
Prosperity products, designed to compete on health benefits and taste, are centered on the use of healthy oils. MELT, the company’s first branded market entry, represents a unique selling proposition competing for market share in the natural butter substitute category, the Alliance said. The product is available at the Boise Co-op in Boise and at the Atkinsons market in the Wood River Valley. It is in distribution in more than 1,000 stores throughout the West including Whole Foods, Raley’s, Albertsons LLC, Haggen Food and TOP Foods.