“InvestTN” is open for business
Launch Tennessee says start-ups and venture capital firms can start the online application process.
The wait is over, and the applications can start flowing from anxious Tennessee start-ups.
That’s the word that came via an email newsletter on June 14 from Launch Tennessee related to the much anticipated “InvestTN” portion of the “Fund Tennessee” program that is funded by the Volunteer State’s nearly $120 million in federal funding under the reauthorized State Small Business Credit Initiative.
“InvestTN” is a $70 million dollar equity fund overseen by Launch Tennessee that is divided into three sub-funds – a $28 million regional seed component, a $30 million technology fund, and a $12 million multi-funds component.
In the email that was part of The Pitch, the organization’s weekly newsletter, Launch Tennessee wrote the following:
Start-ups and venture capital firms can start the application process online now. After a brief intake form, eligible applicants will be directed to apply for funding from one of three sub-funds — the regional seed fund, the technology fund, and the multi-fund. Applications will be considered on a rolling basis.
“InvestTN” is part of the “Fund Tennessee” initiative overseen by the Tennessee Department of Economic and Community Development.