Montana Based Tipu’s Tiger Chai Tea Closes Equity Round with Frontier Angel Fund, LLC: Poised for Global Market

Well known Missoula entrepreneur and former restauranteur Bipin Patel has big plans for his extraordinary chai tea. The company closed a first round of funding with the Frontier Angel Fund, LLC http://www.frontierangels.com. Frontier members will take two board seats. Lake County Community Development has also provided some debt financing to the company.

Chai tea is a rapidly growing consumer market, with no established global brand leader. The market is estimated at $2 billion globally and growing 15% annually. Chai tea is a traditional East Indian beverage believed to have healthful and calming benefits in ancient Indian history. “Everyone who has tried Tipu’s Tiger Chai http://www.tipustigerchai.com says it’s the best chai they have ever tasted,” said Bill Burg, of the due diligence team that researched the opportunity. In fact, in addition to the fund’s investment, several members were enthusiastic about making individual side by side investments in the company. Keith Brown, Chairman of the Frontier Fund expressed his excitement at leading this investment in a Montana company.”

Tipu’s Tiger Chai Tea is already available in more than a dozen states and two foreign countries. It is being distributed by Craven Brothers, Sysco Foods and can be found at popular Montana stores and restaurants including Café Dolce, The Good Food Store and Liquid Planet among others. The company has already picked up distributors for Portland and San Francisco.

Patel said, “The experience with the Frontier Fund was not at all what I expected. While they have provided the equity I have been looking for, their investment of time, expertise and connections have taken me to a place in my business I wasn’t sure I would ever be. It’s been a very eye opening, educational, pleasurable and valuable experience.”

Tipu’s Tiger Chai was founded in Missoula in 2007 and has grown beyond its ability to self fund. The company will be an exhibitor at Seattle Coffee Fest in September and will also be an exhibitor at the RAIN Conference in Minneapolis.

For more information see the company’s website: http://www.tipustigerchai.com , phone 406-240-9979, [email protected]