Folium Partners finalizes $300,000 investment deal

Folium Partners, an Ashland producer of multimedia and audio book apps, will get a $300,000 investment — nearly double the amount initially promised — from the Southern Oregon Angel Investment Network.

Southern Oregon Regional Economic Development Inc. announced the final documents would be signed today.

At the inaugural Southern Oregon Angel Conference in March, Folium was selected from eight startup company finalists for a $155,000 capital investment prize. Since then, as investors and company founders negotiated terms and conditions, members of the network decided to double their investment, SOREDI officials said.

Bill Bagley, one of the investors, will become a member of the Folium Partners Board of Directors and Ron Hren, another investor, will take a seat as a board observer.

John Lee, Jay Tapp, Steve Christensen and Ben Bellinson started Folium Partners in July 2009 and produced their first app for Blackstone Audio in February 2010. While the company came out $3,000 ahead in 2010, the partners augmented their income through royalties, a vineyard and consulting fees.

The investment dollars will advance the company's production schedules, the partners said.

The Southern Oregon Angel Investment Network is a group of accredited investors seeking equity investments in young companies. The goal of the network is to increase the amount of seed capital available in Oregon, thus encouraging economic growth through entrepreneurship. For more information on the 2012 competition and round of funding, which starts in January, visit

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