By Tom Ballard, Chief Alliance Officer, PYA
One of the topics you always hear whenever start-up entrepreneurs gather is the matter of available investment capital, and that’s certainly the case in Knoxville. While it’s not the only area where more “players” are needed, it is certainly an important one, and early stage funding is particularly critical for new ventures.
With an eye toward getting more people off the sidelines and in the game, The JumpFund, a Chattanooga-based angel fund that invests in female-led ventures throughout the Southeast, will be hosting an “invitation only” discussion on September 21 as part of “Innov865 Week.”
It’s the second year in a row that The JumpFund has held an event ahead of Knoxville’s “Start-up Day” which occurs that afternoon.
“It’s not just about our funds,” Melissa Aldridge, Managing Director, told us. “It is a little bit of Angel 101. We will provide some basic overview education on angel investing and venture funds and information about the success of the JumpFund.”
She emphasized that the event is for accredited investors interested in helping expand the capital available to help female-led teams to grow their new ventures. The fund is also not just for women. “We’re looking for a few good men, too,” Aldridge jokingly said.
For those who are not that familiar with The JumpFund, you can review its history by reading this article we posted in early 2015 on teknovation.biz in early 2015. Now, more than three years after its launch, the founders are in the midst of raising a second fund that has a goal of between $5 and $7 million as noted in this late 2016 article on teknovation.biz.
Aldridge said that about $3 million had been raised, and three investments from the new fund have already been made, with a fourth pending. The next close will be at the end of September, and The JumpFund will be accepting subscriptions through the end of the year.