An Iowa-based female angel investor network organized last year announced that it has made its first investment, with an equity stake of more than $100,000 in Des Moines-based software startup company Gain Compliance Inc. 

An initiative of the Iowa Center for Economic Success, FIN Capital was established in 2016 with the goal of increasing women's wealth through private angel investing. 

"We are excited to have FIN Capital as investors," Burch LaPrade, CEO of Gain Compliance, said in a release. "I was extremely impressed by both the organization itself as well as the process. We pitched to a panel of over 20 members, and the expertise of this diverse group was evident in the questions asked and throughout its due diligence process. Our ideal investors are ones who bring a new and valuable perspective to our business, and we feel like we hit the jackpot with FIN Capital."

FIN Capital currently has 28 members who each are accredited investors and have a common interest in angel investing. The organization leverages its members' backgrounds and expertise in a disciplined approach to vetting potential investments. Read a May 2016 article about FIN Capital at BusinessRecord.com.

The organization took just over one month to make a final commitment following the initial pitch by Gain Compliance, said Jolene Vermeer, a founding member of FIN Capital. 

"What struck us about Gain Compliance was the experience of the team in addressing this market opportunity," Vermeer said in a statement. "Gain Compliance's veteran team of founders has a history of success in building enterprise software, and they are taking a thoughtful approach to the complicated and under-served market of insurance compliance reporting."

Gain Compliance was named the 2016 Outstanding Startup of the Year during the Technology Association of Iowa's Prometheus Awards announced in April. 

River Glen Private Capital LLC will administer and manage FIN Capital's investment in Gain Compliance.