A legislative amendment to the bill expanding the TNInvestco program would fund all four of the program's remaining finalists, bringing the initiative’s total value to $200 million.

As NashvillePost.com reported Tuesday, an amendment crafted by the Tennessee Department of Revenue would have expanded the program by $40 million, to a total of $160 million, by funding the two "alternate" TNInvestcos in addition to the six winners the state chose in November. Commissioner Reagan Farr said Monday that he and Economic and Community Development Commissioner Matthew Kisber had been approached about extending funds to all 10 TNInvestco finalists, but that the state wanted to leave that decision to the legislature.

And the legislature has decided to do just that, Farr’s office has confirmed. The four firms who would enter the program if the bill passes are:

• Solidus-TNInvestco LLC, Nashville — led by Townes Duncan and Vic Gatto of Solidus Co. (a major shareholder in NashvillePost.com parent SouthComm Inc.)
• Tennessee Angel Fund, Nashville — led by Nashville Capital Network Executive Director Sid Chambless
• Memphis Biomed Ventures Tennessee I — led by MB Venture Partners’ Gary Stevenson
• NEST-TN LLC, Tullahoma – led by private equity investor Fran Marcum

The bill, which was narrowly voted out of a House subcommittee Wednesday, goes before the full House Commerce Committee next Tuesday.