Nashville, TN (July 10, 2017) – Nashville Capital Network, a partnership of professional investors whose expertise, experience and capital helps promising companies increase their likelihood of success, has closed on $34 million for its new NCN Partners Fund, LP.
NCN Partners Fund is comprised of investors who are founders or executives of some of Tennessee’s most successful companies. The new fund will target the most promising early stage companies in the region, who will benefit from access to the collective networks and expertise of the NCN Partners. The Fund includes former and current executives from such companies as Acadia Healthcare, Gaylord Entertainment, HCA, Healthways, Passport Health, United Laboratories, Vaco, and many others.
NCN Partners Fund is the fourth early stage fund led by managing partners Sid Chambless and Chase Perry. The previous funds – NCN Angel Fund I, NCN Angel Fund II, and Tennessee Angel Fund – have backed some of the region’s fastest growing companies including Aspire Health, Emma, Digital Reasoning, Contessa Health, EnableComp, Concert Genetics, Ampersand Health, and Groups360. Successful prior investments include Horizon Resource Group, Confirmation.com, Care Team Connect, Continuum, Medical Direct Club, NeighborMD, and others.
"Our targets are fast growing companies that typically have $1-3 million in revenue, proven management and are raising their first round of professional capital," said Sid Chambless, managing partner. "NCN Partners Fund is a means to extend the breadth and depth of our partnership by adding more experts to our network. Our model works and we are excited to continue deploying our strategy to support high growth companies in this region. With NCN Partners Fund we will continue to invest in companies that have exhausted ‘friends and family’ financing but are not yet ready for later stage private equity.”
Over the last 5 years, NCN has been involved in 25 percent of the Nashville-based companies that have gone on to raise capital rounds of $3 million or more. The companies it supports have attracted investment from some of the leading growth capital firms in the country, including Google Ventures, Goldman Sachs Private Equity, Blue Cross Blue Shield Venture Fund, PeakSpan, United Health Ventures, HLM Ventures, Oak HC/FT and many others.
“When NCN was formed in 2003, the goal was to help the region’s most promising companies access professional capital. Since then, NCN has helped more than 40 companies raise $600 million in capital,” said Tom Wylly, Senior Partner at Brentwood Capital and Chairman of the NCN Board. “NCN’s management team has developed a business model that provides a resource for entrepreneurs while delivering attractive returns to investors. As a result, NCN was able to generate widespread investor interest for the new NCN Partners Fund.”
