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July 23, 2023 | Tom Ballard

Triangle Tweener Fund focused exclusively on start-ups in the RTP region

The fund has a low cost to join - $20,000 the first year - and has invested $4.6 million in its first 18 months of operation.

Near the end of 2021, we posted this article about a new initiative in the Research Triangle called the Triangle Tweener Fund. It is the brainchild of Triangle-based serial entrepreneur and investor Scot Wingo who first started publishing a list of start-ups in the region in 2015, showcasing the rapidly increasing number of them that had reached important milestones.

The term “Tweener” refers to start-ups with 10 or fewer staff and annual revenues of $1 million. Those receiving funding have to be headquartered in the Raleigh-Durham-Chapel Hill region. For those interested in investing, there’s a low cost to do so, $5,000 per quarter for the first year and what is described as “rolling (quarter-to-quarter) thereafter.” And the Triangle Tweener Fund takes no management fee while also reinvesting its 20 percent carried interest back in the fund

Now, a little more than 18 months after its launch in January 2022, the Triangle Tweener Fund has just announced 18 investments across 14 new companies. Those investments in Q2 of 2023 totaled more than $860,000 and included 11 that were classified as pre-Tweeners.

In its first year, the Triangle Tweener Fund invested more than $2.8 million across 48 portfolio companies. Since then, the fund invested more than $675,000 in Q1 and another $860,000 plus in Q2.

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