Rain Source Capital, which organizes angel investor groups, said it is not going to hold its own annual conference this year.
Instead, the St. Paul-based firm will be directing its members to attend The Minnesota Venture and Finance Conference, hosted by The Collaborative and the Minnesota Venture Capital Association in October.
"Since the format of the conferences were so similar … it made sense to join forces," said Tonia Weber, marketing manager for Rain Source Capital on Wednesday. "At the end of the day, the workshops are really the same."
Weber said the organization decided to focus on its core business, which is building angel investor groups and professionally managed funds. There have been seven RAIN Makers conferences held by Rain Source Capital in the past. Last year, about 240 people attended, up 66 percent from 2009.
Dan Carr, CEO of The Collaborative, said RAIN Fund members and past attendees of the RAIN Makers Conference will be able to receive a discount for the Minnesota Venture and Finance Conference. Last year, more than 350 people attended the Minnesota Venture and Finance Conference.
"This is a significant event," Carr said. "If we can find ways to leverage it for the betterment of all of us trying to build innovation jobs and create new opportunities in the marketplace, that's a good thing."
