What is NCN? Nashville Capital Network (NCN) is an organization that promotes entrepreneurial education and economic growth by being the hub for early capital formation in middle Tennessee. NCN's mission centers on the simultaneous development of two promising initiatives:
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To help entrepreneurs with business ventures that have the potential to attract institutional equity to refine their business concepts and prepare for the fundraising process. NCN serves as an advocate for entrepreneurs and assists in the fundraising process by matching promising ventures with experienced and knowledgeable Nashville-based advisors and investors.
- To build a stable and easily identifiable source of local early stage capital by delivering value to a network of investors via deal flow, investment analysis, and due diligence.
What does NCN do? NCN receives, processes, and screens executive summaries and business plans from local companies seeking capital. Promising ventures will be matched with experienced financial and entrepreneurial advisors who will help review the opportunity and provide feedback. Through the NCN process, entrepreneurs are educated about the fundraising process and have an efficient means to reach experienced and qualified prospective investors.
Why was it formed? The process of connecting entrepreneurs needing early stage capital with private investors is very inefficient. It wastes time and energy on both sides. NCN was formed to bridge this gap and provide entrepreneurs with a more effective and efficient means to gain access to early stage capital. The future of Nashville’s economy will be significantly improved by its success in growing its entrepreneurial endeavors.
Who’s involved? Nashville Capital Network is overseen by a Board of Directors and Advisory Committee made up of experienced members of the financial community.
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Tom Wylly of Brentwood Capital Advisors serves as the Chairman of the Board.
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Sid Chambless, former Executive Vice President for Nashville based Surfari, Inc, and a graduate of the Vanderbilt MBA program, serves as NCN Executive Director.
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NCN staff is supported by students in the Vanderbilt MBA program.
Why submit my application and Executive Summary to NCN? If you have an existing middle Tennessee business needing capital for growth or are starting a new business and are seeking outside investment capital in the $500,000 - $2 million range, you can expect the following when submitting your plan:
- You will receive timely feedback from investment professionals on the thoroughness of your plan and its readiness for consideration for funding by private investors.
- If additional work is needed to refine your plan, you will be referred to a number of sources for help, including professional advisors, mentors and consultants, entrepreneurial support organizations, and Vanderbilt MBA student consultants.
- You will receive professional feedback from NCN advisors, who are experienced entrepreneurs and professionals from various venture capital firms, investment banks, and investment groups.
- Advisors will help prepare entrepreneurs for the fundraising process and will serve as a liaison for the entrepreneur to the local investment community.
- If the entrepreneur and venture are judged to have investment merit, these advisors will recommend the opportunity to the appropriate investors and will solicit support for the investment.
How many NCN companies have been funded? NCN’s Angel Group has participated in the funding of the following 21 companies:
- Armor Concepts
- onFocus Healthcare
- Medical Direct Club
- BreatheAmerica
- PharmMD
- edo Interactive
- Protein Discovery
- Continuum
- Spirit Broadband
- MyOutdoorTV
- Tricycle, Inc.
- TrackPoint Systems
- Capital Confirmation
- The Documentary Channel
- Plumgood Food
- Smartvue Corporation
- Enliven Partnership
- Pathfinder Therapeutics
- The Restaurant Rewards Company
- Silvercare Solutions
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Horizon Resource Group
Does NCN have a fund? Yes, NCN Angel Fund I, LP is a $5.2 million sidecar fund that invests alongside member angels in early stage companies. NCN Angel Fund leverages the experience and expertise of its member angels to make investment decisions.
What size companies are the best fit for the NCN process? NCN targets early stage companies that are raising equity capital in the $500,000 - $2,000,000 range. NCN wants to work with promising companies that are capable of raising institutional capital in following rounds.
Does NCN invest in deals outside of middle Tennessee? NCN is primarily focused on middle Tennessee business opportunities.
Who are some of the venture firms NCN interfaces with? NCN has relationships with numerous regional venture firms, several of which are NCN Sponsors, Underwriters, Patrons, or co-investors. Below is a partial list:
- ABS Ventures - Waltham, MA
- Aurora Funds - Durham, NC
- Capitol Health - Washington, DC
- Chrysalis Ventures (sponsor, co-investor) - Louisville, KY
- Council Ventures (sponsor) - Nashville, TN
- Delta Capital Management - Cordova, TN
- Eastside Partners - Huntsville, AL
- FCA Venture Partners (sponsor, co-investor) - Franklin, TN
- First Avenue Partners - Nashville, TN
- Florida Gulfshore Capital (co-investor) - Naples, FL
- Frontier Capital - Charlotte, NC
- Harbert Venture Partners (sponsor) - Birmingham, AL
- Hatteras Venture Partners (co-investor) - Durham, NC
- Innova Ventures - Memphis, TN
- Innovation Valley Partners - Knoxville, TN
- Lovett Miller & Company - Tampa, FL
- Madrona Venture Group - Seattle, WA
- Massey Burch Capital Corp. - Nashville, TN
- MB Venture Partners (co-investor) - Memphis, TN
- MDS Capital Corp. (co-investor) - Toronto, Ontario
- New Enterprise Associates - Baltimore, MD
- Noro-Moseley Partners - Atlanta, GA
- Paragon Equity Group - Dallas, TX
- Petra Capital (sponsor) - Nashville, TN
- Pharos (sponsor, co-investor) - Nashville, TN
- Richland Ventures (co-investor) - Nashville, TN
- River Cities Capital Funds (sponsor, co-investor) - Cincinnati, OH
- RNR Ventures - Huntsville, AL
- Salix Ventures - Andover, MA
- Sante Ventures (sponsor) - Austin, TX
- SJF Ventures - Durham, NC
- Southern Appalachian Fund (co-investor) - Oak Ridge, TN
- SSM Partners (sponsor) - Memphis, TN
- StartUp Midwest Bio Seed Fund - St. Louis, MO
- STHS Ventures - Nashville, TN
- Voyent Partners (sponsor, co-investor) - Brentwood, TN
What do I have to do to get started? Entrepreneurs interested in accessing the services and members of Nashville Capital Network must first complete the short online questionnaire in which they provide a brief overview of the company. This company overview will be reviewed by the NCN Staff. Ventures that are judged appropriate for NCN review process will be asked to submit an executive summary and business plan. You can then expect a call to discuss your plan and its readiness for acceptance.
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