NCN launches second Angel Fund

Group attracts $1M more than targeted from investors

The Nashville Capital Network has launched NCN Angel Fund II, according to a statement released today. The group's $10 million fundraising target was oversubscribed by more than $1 million. More than 80 investors are participating in the partnership, growing NCN’s angel roster to 120 investors.

NCN Angel Fund II will invest in twelve to fifteen early stage companies alongside the individual angel investors in the group; most of whom are successful entrepreneurs themselves. These individuals will work with NCN to evaluate the opportunities, serve on the board of directors, and provide guidance to the entrepreneurs. Based on the historical co-investment activity of the angels in the group, the new fund and its investors could provide up to $20-25 million of capital for local early stage companies.

“In addition to our enthusiasm about surpassing the fundraising goal, we are extremely excited about the roster of investors who participated in the fund.  Our partners are founders and executives of some of the most successful companies in Nashville history. These angels will serve as partners in due diligence, and will also mentor and assist the CEOs of the funded companies” said Sid Chambless, Executive Director of NCN and Managing Partner of NCN Angel Fund II.