Category Archives: TNInvestco

Investment seminar for women- and minority-owned businesses

If business owners are willing to travel to Memphis, the Tennessee Department of Economic and Community Development is hosting a seminar for women- and minority-owned businesses to learn more about Tennessee’s TNInvestco program.

The seminar is Tuesday, Aug. 17 at 2 p.m. at Memphis Bioworks, First Floor Auditorium, 20 South Dudley Street.

A panel of venture capitalists will talk about the capital investment program which to date has raised more than $146 billion to invest in small businesses across the state.

The TNInvestcos include: Council & Enhanced Tennessee Fund, Innova Fund II, Limestone Fund, MB Venture Partners, NEST-TN, Solidus-TNInvestco, Tennessee Angel Fund, Tennessee Community Ventures Fund, Tri-Star Technology Fund and XMi High Growth Development Fund.

For more information on the event, contact Caleb Hemmer of the Department of Economic and Community Development at caleb.hemmer@tn.gov.

Knoxville-based TrakLok attracts VC investment

Money has been tight in recent years, but Knoxville-based TrakLok Corp. scored big this week when Innova, a Memphis venture capital group, said it would invest in the developer of a security device for shipping containers.

Innova is providing “about 25 percent of the capital we’re looking for in this round,” said TrakLok CEO Eric Dobson. In return, Innova gets an equity stake in the Knoxville start-up.

Innova is a participant in TNInvestco, a state program designed to bring new capital to Tennessee and provide seed money for early stage companies based here.

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