About
InvestTN is an early-stage venture capital fund managed by Launch Tennessee, established as Tennessee's equity investment program under Fund Tennessee, a $117 million state initiative funded by the U.S. Treasury's State Small Business Credit Initiative (SSBCI 2.0). The fund deploys $70 million in capital with a focus on pre-seed, seed, series A, and series B stage investments exclusively in Tennessee-located startups and venture capital funds. Led by Chief Investment Officer Eller M Kelliher, InvestTN began active deployment in November 2023 and completed 11 investments in its first quarter of 2024, with an additional seven portfolio companies announced thereafter. The fund maintains sector flexibility, targeting business products and services, consumer products and services, energy, financial services, healthcare, information technology, materials, and resources across Tennessee, with particular concentration in Nashville and neighboring regions. InvestTN operates as part of Launch Tennessee's broader mission to connect founders with both angel investors and early-stage venture funds interested in co-investment, positioning itself as a capital aggregation platform rather than a traditional angel group. For founders, the fund provides access to significant equity capital at critical early stages alongside participation in Tennessee's broader startup community. For limited partners and co-investors, InvestTN offers curated deal flow and fund management by an established state economic development organization with infrastructure for managing multiple capital programs.