A local startup that seeks to let people share or trade clothes and and other items is looking to raise $1 million from area investors. Milt Capps at Venture Nashville says the team at TuLook Exchange could build on that amount later next year as it looks to scale its platform.
TuLook users control which goods or services they offer to lend, trade or sell; and, they use whatever means of payment and delivery suits the parties. At their own discretion, each registered TuLook user must invite participation by friends and other connections they've already made via Facebook, Twitter or other social media. Then, each invitee must confirm their acceptance of the invitation. This double-confirmation allows the platform to be largely self-policing, Fazio said.
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Milt Capps at Venture Nashville Connections reports that local marketing strategist Kate O'Neill is preparing to move to New York City after a dozen years in Music City. Her fiancé, Robbie Quinn, hails from the Big Apple, where O'Neill plans to continue her KO Insights venture.
Veteran Nashville financial technology entrepreneur Joe Maxwell will step out of a full-time role at Ipreo, the company to which he sold Shareholder InSite nine months ago, at the end of this year. After that, he tells Milt Capps at Venture Nashville Connections, he will devote the majority of his time to raising a venture capital fund focused on fintech ventures.
Maxwell's "emerging markets and growth fund" will address full-spectrum fintech opportunities, he said, declining to discuss any other general partners, at this time. The new fund is unlikely to do true Seed-stage or Buyout transactions, though such deals are not forever ruled-out.
Milt Capps has checked in with veteran local payment processing entrepreneur Greg Daily, who is building what was Charge Payment and now is i3 Verticals into a broader financial technologies play. Daily and his team last month acquired RentShare.com, a New York-based mobile payment platform focused on the apartment sector, and has since wrapped up two other deals. There's more to come, Capps writes, including a possible IPO.
While maintaining its presence in Retail, the company's acquisitions and other growth efforts are concentrated on expanding into Education, Government/Public Sector, Healthcare, Utilities and Nonprofit/Fundraising sectors. Daily described those sectors as populated by enterprises that "don't go out of business." The company's current offerings span payments processing, metrics-reporting tools, point-of-sale technologies, gift and loyalty programs, merchant financing and security support.
Milt Capps over at Venture Nashville has the scoop on XMi Holdings executives' plans to build out their investing lineup with a new $20 million fund that will have the freedom to invest in a variety of sectors. The fund will look to take large stakes in promising companies, a good number of them likely in health care.
It has prospects in mind for investment, drawn from among companies with which XMi executives have become familiar in recent years. And, said Phillips, it will be "turning-on the spigot for referrals."
Local immunization data venture MedPass Health has raised $760,000 from its founders and seven angel investors and aims to grow its staff to 20 from today's half dozen over the next year. CEO Hallett Ogburn and his team also have struck a partnership with the University of Alabama Management Information Systems program. Milt Capps has that info and more — including another capital raise — here.
The UA alliance helped MedPass develop its initial platform by drawing on a formalized team of six UA MIS students, who each work 20 hours per week, with guidance from MedPass engineers and oversight by a sponsoring faculty member, Joanne Hale, Ph.D. The UA MIS students are now working on MedPass iOS and Android mobile apps, which are to be available by late Summer.
Milt Capps at Venture Nashville has touched base with the team at Life Science Tennessee, which will next week visit Capitol Hill to make their case for tens of millions in funding from various sources. Along with Life Science Tennessee Chairman Steve Bares and other board members, Hall Strategies Partner Abby Trotter will represent the organization.
Bares and Trotter told VNC that LSTN does not yet have sponsors for legislation to provide the support the association seeks, but LSTN is on the lookout for such opportunities and is steadily engaging legislators on the matter. They do not pretend that success this year is do-or-die, and say they plan to persist, regardless the outcome in this session.
Three-year-old patient engagement and case management company RoundingWell is ready to "step on the gas," co-founder John Smithwick tells Milt Capps at Venture Nashville Connections. The company is putting the finishing touches on a $3 million capital raise and preparing to move to Church Street's Midtown section.
By year's-end, Roundingwell could hit 30 full-timers on its payroll, up from its current total of 13 full-timers and some dedicated consultants. Its website shows openings for both tech developers and sales and marketing.
Peter Scully, a former leader of Private Business, is in the process of relocating to Nashville an Atlanta company that has built a platform to handle sales of stock in community banks not listed on a stock exchange. Milt Capps at Venture Nashville reports that Scully took over at Community Bank List — the company's brand will soon migrate to BancList — about a year ago and is planning to raise $1 million in capital as he seeks to grow the company's bank customer list more than fourfold this year.
All transactions that result between buyer and seller are direct, with no involvement by BancList, and each must be cleared by the bank that issued the shares. And, all bank shareholders who wish to receive such alerts are advised of shares being proffered, as part of compliance with fair disclosure regulations. BancList's platform thus helps banks' management teams mitigate regulatory-compliance risks.
Over at Venture Nashville Connections, Milt Capps has written about a potentially promising alliance between Middle Tennessee State University, Tennessee State University and Tennessee Technological University. Officials at the schools are looking to develop a "distributed research park" that would pool best practices around their tech transfer operations and supporting the state's regional business accelerators. Things are at a very early stage and there are plenty of paths to explore.
A physical campus for a central MT-DRP "technology concentration" facility is among the options that are to be studied. However, in the absence of such a physical geographic nexus, the "distributed research park" could take the form of collaborative, cooperative or community programs.
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