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January 17, 2024 | Tom Ballard

INVESTOR OUTLOOK 3 | Are new investments in your future?

All funds say "yes," they will be making new investments in 2024.

Today’s question as posed to our experts is: “Will you be making additional new investments in 2024 or will you limit your fund to follow-on investments in existing start-ups solely?”

Eric Dobson, Managing Partner, Community Equity Partners LLC and Sheltowee Venture Fund II: We will prioritize our portfolio companies, but we expect to be making investments in new companies in 2024.  Deal flow has been strong the last three years. I expect that trend to continue as well. And I expect SSBCI (State Small Business Credit Initiative)-oriented programs around the country to be driving deals to willing investors.

Tony Lettich, Managing Director, The Angel Roundtable (ART): ART does expect to make additional investments in new opportunities in 2024. However, we would expect our continued approach of being highly disciplined and discriminating to continue, investing only in opportunities which are providing continued and strong growth, consistent or in excess of projections, as well as the continued accomplishment of technical and administrative goals and objectives. 2023 was a record year for ART’s investment in our existing portfolio companies as we continued investment in those companies whose performance met or exceeded established goals, objectives/milestones. That should continue in 2024.

Grady Vanderhoofven, President and Chief Executive Officer, Three Roots Capital: We have been able to raise additional capital in 2022 and in 2023. The pool of capital we have available for equity investing is an order of magnitude larger than it was three years ago. We will be making new investments in 2024, and we do anticipate making follow-on investment in current portfolio companies.

Ken Woody, President and Partner, Innova Memphis: We are actively investing out of Innova Ag Innovation Fund VI in rural AgTech companies across the country. We continue to see strong deal flow with experienced management teams and good ideas.

David Adair, Co-Founder and Managing Director, Solas BioVentures: Solas will be making investments in both new and follow-on opportunities. Targeted areas of high patient impact and high market need remain a key focus of our team. We are always looking for opportunistic offerings, especially novel platforms in high growth areas. Our key word will be SELECTIVE, Highly Selective!

Gene Bressler, Chairman of the Upper Cumberland Investment Alliance: We are looking to put capital to work on solid ideas or emerging and disruptive technologies.

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