Incite Co-Investment Fund

Leveraging $87.7M in private capital

Program Overview

The INCITE Co-Investment Fund is a key element of Gov. Bill Haslam’s INCITE initiative to drive growth and create knowledge-based jobs in Tennessee. INCITE works by encouraging outside investment in startups, then matching a portion of those funds.

Since its founding in 2011, INCITE has used $28.8 million in federal funding under the State Small Business Credit Initiative to leverage $87.7 million in private capital. An additional $43 million followed, for a total of $160 million going into Tennessee companies.

INCITE’s Goals

  • Create and retain high-quality jobs in Tennessee.
  • Provide Tennessee companies access to additional seed, early and expansion-stage venture capital, in part by attracting and leveraging significant private capital investment.
  • Accelerate technology commercialization from Tennessee research institutions to Tennessee companies.
  • Minimize administrative costs and maximize funding to Tennessee companies.

Apply to be a qualified investor or business

 

Program Details

The INCITE Co-Investment Fund is a key component of Gov. Bill Haslam’s INCITE initiative to drive growth and create knowledge-based jobs in Tennessee by encouraging investment in the state’s developing small businesses. Administered by Launch Tennessee, the Fund matches a portion of investments in Tennessee-based companies. The INCITE Co-Investment Fund was created in 2011, using $28.8 million of federal funding awarded under the State Small Business Credit Initiative. To date, all $28.8 million has been invested through the INCITE Co-Investment Fund, leveraging $87.7 million in private capital. An Additional $43 million in follow-on has since been invested, for a total of $160 million going into Tennessee companies. Investment takes place at the following levels:

  • Tier I: Seed Stage Investment [50% match]
  • Tier II: Early/Growth Stage Investments [33% match]
  • Tier III: Expansion Stage Investment [25% match, capped at $3 million]

 

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