The Harpeth Capital division that helps private equity and venture capital funds raise money recently put a bow on its work with San Francisco-based Leerink Revelation Partners. The latter had sought $175 million for a vehicle to invest in privately held health care companies. Harpeth's work helped it raise $192 million.
The Post team is present and on top of things at the 36|86 entrepreneurship conference being hosted at Marathon Music Works by Launch Tennessee today and tomorrow. Click here to go to the our landing page on Southern/alpha, where you'll find snippets from the presenters as well as links to broader stories on various topics. Some tasters: One venture capitalist said Silicon Valley is "the last place on the planet" where his team is looking to build a promising company now and an HCA exec told the crowd his technology investment strategy is focused on need and not return.
"We don't have FOMO, because we know what we're looking for" - Will Morrow on HCA's narrow investment strategy— Southern/alpha (@SouthernAlpha) June 9, 2015
DART Music has completed a raise of $1.5 million, capital that will help the Nashville-based start-up continue its focus on changing how classical musicians organize and categorize digital distribution.
DART will soon file SEC documentation for the raise, according to company officials, who told the Post their seed-stage effort is complete. Now the focus will be on product development and growth, according to CEO Chris McMurtry.
DART's goal is to create and track classical music metadata, McMurtry (pictured) said. Like one of the ongoing themes at Project Music, the company’s mission is to allow classical musicians to maximize their royalties payments. DART bills itself as the first company to offer a fully automated distribution platform for classical music metadata.
“There’s not a way for an independent creator to get their music to an online store without giving up 50 percent of their royalties,” McMurtry said. “That was the organic journey that led us to start.”
DART is a recent graduate of Project Music, a music-business accelerator the Entrepreneur Center hosts.
The company, which ranks among the accelerator’s first graduating class, is noteworthy among early-stage ventures in Nashville due partially to its current partnership and past association with Apple.
DART Chief Marketing Officer Richard Jacobson stressed the company is comfortable with it focus on classical musicians.
“I wholeheartedly believe that doing the right thing and doing the profitable thing can be the same thing,” Jacobson said of a musical genre that is often overlooked and misunderstood. “That’s why DART exists and that’s what we are going to do.”