There’s a new fund announced last week that is focused on “tweeners” — the next generation entrepreneurs and high-tech start-ups — located in the Research Triangle area of North Carolina.
The “Triangle Tweener Fund” 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. That initial list included about 50 companies; the 2021 list includes 227 companies that meet his criteria — generating more than $1 million in annual sales, or employing at least 10 full-time non-founder employees, but not having reached $80 million in sales or 500 employees.
According to this article from WRAL TechWire, more than 20 of the region’s most successful founders, operators, and now investors have chosen to participate in the fund. The fund structure is itself an innovation in venture capital, using a new “rolling fund” subscription model that Wingo noted was pioneered by and powered by AngelList (see previous teknovation.biz article on the AngelList model here).