Hall Capital Partners out of Oklahoma City has recruited Nashville health care veteran Billy Webb to lead its new local office, which has opened as its latest $100 million preps to hit the streets. Webb spent seven years at surgery center chain Symbion before heading up a local office for Georgia-based health IT venture HealthPort.
“This is a space that Fred wanted to be in with the fund, and we felt like we could work collaboratively to look for opportunities particularly in the Nashville market.”
The new fund, like its predecessors, will focus on investments in family-owned firms positioned for a change in ownership and firms that need money to grow, Hall said. The company will primarily invest in and around its offices in Oklahoma City, Dallas, Chicago and now Nashville, he said.
Click here for more info on Hall Capital.
State ECD officials say firms coveting a $3 million slice of the $30 million the department will allot as part of its INCITE start-up investment initiative must have a good track record. WPLN's Blake Farmer talked to Ryan Gooch, who says investors must have already put to work $15 million to become eligible for INCITE's co-investment cash.
The plan is designed in part to attract investment from places like New York City or Silicon Valley.
“If that capital is coming in from somewhere outside the state into a Tennessee company, we think that’s a win.”
Gooch says either way, Tennessee start-ups will be getting capital they need to expand. The companies receiving the investment must be headquartered here, with most of their employees also located in the state.
In a wrap of recent regional venture capital activity, Milt Capps highlights a number of investments made by Nashville-based funds. Both the Limestone Fund and the XMi High Growth Development Fund have put about half a million dollars to work in an Oak Ridge companies that makes filtration technology. Separately, the TriStar Technology Fund has acquired a convertible note from MedCenterDisplay, which services gear and information for medical waiting rooms.
POSTDATA: WARRANTY DEEDS