Angel Capital Group is launching a new KC-based micro venture investment fund that will put $1 million to $5 million into science and technology companies.

The Angel Capital Group already has a local chapter, founded in 2012, that has invested in seven KC businesses: Innara Health, ABPathfinder, Nitride Solutions, Moblico, TVAX Biomedical, Venture360 and LeadHorse Technologies.

This new fund will target local and regional startups, and national ones, too.

Shane Spencer, a Kansas City venture capitalist and fund manager, will serve as the general manager of the fund.

“We have found a kindred spirit in Shane,” said Eric Dobson, CEO of Angel Capital Group. “He is a savvy businessman and investor, and his heart is in the right place. He loves startups and the KC entrepreneurial landscape. We expect great things of his work here in Silicon Prairie.”

Angel Capital Group is a network for private-equity angel capital, with operations in nine states. It recently combined with RAIN Source Capital, and over the space of 10 years, the two entities have put about $44 million into 131 companies, creating more than 4,500 jobs and leading to $750 million in follow-on investments.