Fledgling companies earn Centennial investments

Andrew Beverly (left), John Thompson, Gene Gehrke

Nearly three years after its inception, Centennial Investors has gained momentum. The high-net-worth investors now have provided funds for five early stage companies, all of which will be based in Columbia.

Two companies have formally received investments from Centennial Investors. Three others have received investments from individual members, separate from the group’s involvement.

The two companies that have made it through the entire process and are now officially receiving money through Centennial Investors are Equinosis and Nasopure. Equinosis has invented a technology that diagnoses and analyzes lameness in horses. Nasopure developed an all-natural nasal wash system designed to cleanse the nasal passages, reducing illness and allergies.

The three remaining companies – Innovia Medical, PrimeGen and Media Convergency Group—benefit indirectly from Centennial Investors’ activities.
Innovia Medical produces a device that checks for signs of inner ear infections, and PrimoGen says it has developed a cleaner and more efficient way to convert fuel into electricity. Media Convergence Group, an online media company, recently relocated from Silicon Valley to Columbia.

Centennial Investors was founded three years ago through the Columbia Chamber of Commerce as a way to commemorate the chamber’s 100-year anniversary. Today, it is a collection of close to 50 individuals with the financial capacity and interest to invest in risky, early stage ventures. Commonly called an “Angel Network” because beneficiaries often view the investments as miraculous, this sort of group is considered an essential component for a community that wants a technology-centered economic development strategy.

The investments are significant signs of success, following a three-year process that started with building the network from nothing.

“We spent a year and a half putting this thing together,” noted Gene Gerke, a Centennial Investors founding member and president of business consulting firm Gerke & Associates. “The fact that we’ve already had this many investments in little old Columbia, Missouri, really says something.”

Andrew Beverley, Centennial Investors president and chairman and CEO of First National Bank, praised both Columbia’s business community and the University of Missouri for their roles in helping the investment group reach this point.

“I could not be happier with the involvement of the community and the university,” he said. “I have been particularly impressed with the quality of research at MU and its potential to lead to jobs right here in Mid-Missouri.”

Equinosis provides an example of this involvement, originating at MU’s College of Veterinary Medicine.

At least once each month, group members view presentations by companies seeking investment. This is part of a lengthy process designed to evaluate each company’s viability, growth potential and interest to assembled investors. The group looks for companies that need six-figure investments. “Two-hundred- to five-hundred- thousand-dollar investments tend to fall into our sweet spot,” Beverley said.

The next step for Centennial Investors is to look for more investments, Gerke said. “We’ve got another members’ meeting next month where a new company will make a presentation,” he said. “We’ll just keep on rolling.”