Jamie Kenworthy, Founding Manager. Jamie has over 20 years funding experience. Before moving to Alaska, he was the manager of Research & Technology Programs for the Michigan Strategic Fund and on the Board of Directors for the Alaska Science & Technology Foundation (ASTF), the State of Alaska sponsored seed stage grant program. Jamie moved to Alaska in 1995 to become ASTF's Executive Director until his retirement in 2003.
Jamie has seen early stage companies with great potential struggle to move to the next level due to the lack of financing options and operational support. He and his wife, Pat, are Berner fans.
Judith Bassoul, Manager. Judith brings over 20 years strategic finance, strategic marketing, and operational experience in domestic and international value-added commodities and manufacturing, transportation, software, pharmaceuticals, and retail. Her first involvement in venture financing was with an Illinois-based angel fund focused on local sustainable food supply.
Judith has a passion for cold-weather and urban agriculture, along with interesting food businesses. Residing in Chicago, she is drawn to the 49th Fund by a love of Alaska and its interesting businesses. Her German Shepherd is a city dog, and monitors the activities of Lake Michigan and Chicago from a 64th floor perspective.
The 49th Fund, LLC is a private equity fund focused on investment in companies that are already generating revenue, with clear potential for accelerating their growth in Alaska, U.S. and/or global markets, that need capital (and maybe operational assistance), and are seeking more than traditional bank financing.
In 2014, Carol Howarth and Jamie Kenworthy founded the 49th Fund with the purpose of funding growth companies that had the potential to have an impact on Anchorage, Alaska's economy. They and eight other investors committed a total of $4.4 million for investment in companies benefiting Anchorage.
The 49th Fund's members are seasoned business people who know how challenging, frustrating, risky and rewarding it is to start and grow a business.
Several of our investors are active in the decisions of the 49th Fund, and all are open to sharing their wisdom and experience with portfolio companies.
The investor group includes the Municipality of Anchorage's 49th State Angel Fund, a U.S. Department of Treasury funded program.
The 49th Fund is one of four partner funds with the 49th State Angel Fund (http://www.49saf.com).