InvestTN added six companies to its portfolio in the past quarter
Launch Tennessee’s $70 million investment fund, now has a total of 36 companies in its portfolio.
This past quarter, the Launch Tennessee Capital team made unique investments in industries ranging from artificial intelligence to healthcare.
Regular readers of teknovation.biz may be familiar with a few of the startups on the list – namely New Day Diagnostics and Onrise, both of which are located in Knoxville.
As of March 31, InvestTN has invested in 36 companies, expended $11.7M directly to founders, committed $6M to two venture capital funds (one of which being Market Square Venture in Knoxville), and expanded $300k to two companies within the portfolios of those venture capital firms.
InvestTN is the equity program of Fund Tennessee, a $117 million initiative that represents Tennessee’s allocation of the most recent State Small Business Credit Initiative (SSBCI 2.0) funded by the U.S. Treasury.
LaunchTN is responsible for deploying $70 million through InvestTN funds via equity investments in early-stage, Tennessee-located startups. InvestTN has two direct investment funds — the Regional Seed Fund ($28 million) is for pre-seed and seed companies, and the Growth Fund ($26 million) is for seed, series A, and series B investments. The Multi Fund makes Limited Partner allocations to venture capital funds.
New investments in the past quarter
Arena Labs
Based in Nashville, this is the first company to apply the mental and physical principles of world-class athletes, elite military, and creative performers to frontline healthcare workers, empowering them with cutting-edge tools, data, and insights to achieve their potential. Learn more about Arena Labs.
Aquatrino
Based in Nashville, it is a water technology company dedicated to destroying forever chemicals, which are incredibly slow to break down and thus are widely found in the environment and our bodies with dangerous health effects. Learn more about Aquatrino.
New Day Diagnostics
The Knoxville-based company is on a mission to make health information more accessible, accelerating the path from discovery to diagnosis to improve patient care and outcomes. Learn more about New Day Diagnostics.
Onrise
Based in Knoxville, Onrise provides mental health care and support that athletes trust and want to use, a turnkey solution for professional, collegiate and youth sports organizations. This company also won first place in the pitch competition at the 2024 3686 Conference in Nashville. Learn more about Onrise.
Send-it Healthcare
Based in Nolensville, the company focuses on the SaaS-enabled, B2B marketplace where healthcare organizations and professionals engage to fill critical staffing needs and expand services. Learn more about Send-it Healthcare.
zignyl
Based in Memphis, zignyl is an intelligence platform that empowers businesses to maximize profits by combining actionable insights with employee engagement. Learn more about zignyl.
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