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January 19, 2023 | Tom Ballard

2022 ends record year for Nashville-based investment funds

Investment funds based in Music City had a record year, raising $880 million from investors.

Nashville Inno’s Adam Sichko writes that Nashville and Middle Tennessee funds and start-ups had a pretty good year in 2022. The article (subscription required) is based on newly issued data from PitchBook and the National Venture Capital Association.

According to Sichko’s analysis:

  • Preliminary numbers show that Nashville companies raised more than $708 million in venture capital last year, a number bolstered near the end of 2022 by the $65 million raised by August Bioservices LLC (see December teknovation.biz article here). That total is about two-thirds of the $1.16 billion that was invested in 2021.
  • Investment funds based in Music City had a record year, raising $880 million from investors.