KNOXVILLE, Tenn. (WATE) – A seed-stage venture capital fund, TennesSeed Fund, is launching efforts to invest in startups throughout Tennessee to have a lasting economic impact.
The Fund is a model for-profit and nonprofit blend (TennesSeed Partners, LLC and TennesSeed Funders 501(s)3) that creates an “evergreen” structure to seek investment opportunities and support companies throughout the state.
They have already invested in startups in West Tennessee and in East Tennessee; but does not have a specific industry or technology focus, allowing it to invest in a variety of Tennessee-based companies and help them achieve specific, well-defined milestones to substantially de-risk future investment and increase the value of the company.
To date, the Fund has made three investments in Active Energy Systems (Oak Ridge), Entac Medical (Memphis) and SmartRIA (Knoxville).
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