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InvestTN for Startups

Powered by Launch Tennessee, InvestTN manages two equity capital programs totaling $64M for Tennessee-located early-stage startups: Regional Seed Fund and Growth Fund. Startups at the Pre-Seed, Seed, Series A or B stages are eligible for an initial investment of $25k to $3M.

InvestTN for Funds

InvestTN’s Multi-Fund invests in Tennessee-located and focused venture capital funds. Multi-Fund capital commitments range in size from $1M to $3M and serve as anchor investments in the first closing of a new fund. Eligible venture funds are targeting a fund size of $10 million to $30 million.

Frequently Asked Questions

What is the deadline to apply for investment?

We are accepting applications on a rolling basis and reviewing new applications regularly. There is no fixed deadline to apply at this time.

What makes a successful application?

We will review completed applications for alignment with InvestTN program guidelines as set by the State of Tennessee and the U.S. Department of the Treasury, in addition to assessment of the viability of the company (industry focus, business model, proof points, go-to-market, team expertise, etc.). Incomplete applications will not be considered for investment.

Where does InvestTN’s capital come from (what is SSBCI)?

The American Rescue Plan Act reauthorized and expanded the State Small Business Credit Initiative (SSBCI) via US Treasury to provide $10 billion to support small businesses and empower them to access the capital needed to invest in job-creating opportunities as the country emerges from the pandemic. SSBCI provides funds to states, the District of Columbia, territories, and Tribal governments to promote American entrepreneurship, support small business ownership, and democratize access to capital across the country, including in underserved communities. To learn more about the program, including comprehensive detail on the guidelines and requirements, visit the SSBCI website.

How is ‘Tennessee-located’ defined?

InvestTN capital will be invested into Tennessee-located businesses, defined as a business that is registered to do business in Tennessee with the Tennessee Secretary of State and (1) 51% of its employees are domiciled in Tennessee, or (2) is a Headquarters Facility as defined by T.C.A. § 67-6-224, or (3) a majority of its senior management are domiciled in Tennessee. A street address must be submitted as part of the company’s application. Companies that receive capital from InvestTN agree to remain located in Tennessee for at least 24 months from the date of receipt of funds.

What are the reporting requirements?

InvestTN portfolio companies and funds, including the portfolio company recipients of SSBCI capital from those funds, are required to participate in quarterly and annual reporting requirements. This data will be collected and submitted to TNECD by Launch Tennessee, for submission to the U.S. Department of the Treasury by stated deadlines.

To view our complete list, visit our FAQs page. We encourage all applicants to read this carefully prior to submitting an application for investment consideration.