InvestTN for
Startups

Powered by Launch Tennessee, InvestTN invests equity capital into Tennessee-located early-stage startups.

$64M

Total funds for startup equity investments

$25k – $3M

Initial check size, with reserved capital for follow-on

95

Counties across Tennessee eligible for funding

Early-stage investment capital for startups and companies raising Pre-Seed, Seed, Series A or B funding.

 

 

While industry alignment is not a prerequisite for funding eligibility, InvestTN is interested in meeting companies representing the following industries driving growth across the state.

  • Advanced Materials
  • AgTech
  • Battery Solutions
  • Biotechnology
  • Climate Technology
  • Consumer Products & Technology
  • FinTech
  • Health Tech
  • Manufacturing/Construction Tech
  • Mobility & Transportation
  • SaaS, Data & AI
  • Web3 & more

$28M Regional Seed Fund

InvestTN’s Regional Seed Fund is a $28M Tennessee-focused initiative for Pre-Seed and Seed stage startups. Up to $4 million is earmarked for each of our 7 Regional Entrepreneur Centers across the state serving all 95 counties. Initial investments range from $25,000 to $250,000, with a target round size of $100,000 to $750,000.

$36M Growth Fund

InvestTN’s Growth Fund will invest $36M into Tennessee-located companies from industries driving the state’s growing ecosystem, with the ability to lead rounds as needed. Investments range from $250K to $3M, with a target round size of $1.5M to $8M, across Seed, Series A, and Series B stages.

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 is the investment process for startups?

We ask that you first complete our Intake Form. Based on what you share, our investment team will be in touch to facilitate the Regional Seed Fund or Technology Fund application process. The process from start to finish can be completed in a matter of weeks or months depending on the completeness of your application, the volume of applications currently being processed by our team, among other factors.

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.

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

Are you building an early-stage startup in Tennessee? We want to meet you.