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The Lobo Rainforest building was largely empty during the pandemic, but Rainforest Innovations maintained programming online. (Jim Thompson/Albuquerque Journal)
ALBUQUERQUE, N.M. Long-time angel investor and serial entrepreneur John Chavez had an unenviable front-row seat during the economic devastation wrought by the Great Recession in 2008.
John Chavez
At that time, New Mexico’s incipient startup ecosystem had limited resources to support many struggling businesses that had recently launched prior to the crisis, and investors like Chavez could do little as numerous startups crashed and burned in the downturn.
Now, 13 years later, it’s a very different story as the state and country emerge from the pandemic, which plunged the economy into a far-worse crisis than the one a decade ago. This time, the local ecosystem was well-prepared to weather the storm, armed with an extensive statew
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Employees prepare ingredients to bake energy bars at Taos Bakes manufacturing facility in Questa. (Courtesy of Taos Bakes)
ALBUQUERQUE, N.M. A new $350,000 investment could help two northern New Mexico “ski bums” feed a lot more outdoor enthusiasts with tasty, healthy snacks made by their Questa-based company Taos Bakes.
The New Mexico Angels contributed $220,000 in late April to help close out a new capital raise that existing investors began last fall to reach a $350,000 target, said Tim Wegener of Carouth Capital Partners, a Texas-based private equity firm that previously invested about $4 million in Taos Bakes. The new investment will help the firm expand its line of products and ramp up marketing efforts to broaden its consumer base.