FRONT PORCH VENTURE PARTNERS ANNOUNCES THE SUCCESSFUL CLOSE OF ITS SECOND FUND

Hybrid fund brings more fuel for startup growth in the Southeast

April 30, 2024

RALEIGH – Front Porch Venture Partners (FPVP), a Research Triangle-based venture capital firm investing in rapidly growing startup ecosystems in the Southeast, announces the successful final close of its $20 million second fund. 

Even amidst a difficult fundraising environment, the firm’s second fund hit its fundraising target and is quadruple the size of an oversubscribed first fund. The Fund 2 investment strategy is a scaled up version of Fund 1 and deploys an innovative hybrid strategy of fund and direct startup investments, much like larger institutional investors. 

Front Porch invests in the Southeast because the critical inputs of talent, ecosystem support, and ease of starting a business provide a great setup for startup companies. But accelerating startup growth in the Southeast requires a lot more capital, and Front Porch’s mission is to bring more capital and connectivity to the region where its three Founding General Partners grew up and are raising their families. 

“We are thrilled with the final close of Fund 2 and so appreciative of our ecosystem friends for their support of Front Porch – whether by sharing ideas, giving advice, or investing with us,” said Co-Founder and General Partner Nikin Shah. “Most importantly, thank you for the impact that your time and dollars will have in positioning our region among the world’s best places to start and grow a company.”

Since January 2020, FPVP has invested in 25 top-tier venture capital funds based in North Carolina, South Carolina, Georgia, Virginia, Tennessee, and Florida. These fund partners include many of the most well known firms in the region, plus a targeted group of emerging fund managers, across both technology and healthcare. Fund 2 already includes five (5) commitments into the next funds of top fund partners from Fund 1. 

"The partners at Front Porch bring not only capital to our Fund II and Fund III, but also strategic value as savvy direct co-investors and collaborative support for our portfolio,” said David Mendez, Managing Partner of Good Growth Capital, based in Charleston, SC. “We have really appreciated their partnership and insight across both of our funds.” 

To complement its core fund partnerships, FPVP also directly invests in high potential startups throughout the Southeast. The firm then partners with founding teams and their lead investors to support their growth and fundraising strategies. Fund 2 targets a total of 25-30 direct ‘best ideas’ investments, with 14 deals completed so far.

“Venture Atlanta has had the privilege of working closely with the team at Front Porch. They have been incredibly active in the Southeast, bringing immense knowledge and talent to their investments and funding several Venture Atlanta companies,” said Allyson Eman, CEO of Venture Atlanta. “We have loved seeing them as true collaborators and partners and we can’t wait to see what innovation this new fund will help fuel in the Southeast over the next several years.” 

Front Porch Venture Partners will be actively investing in funds and startups in the Southeast throughout 2024. Plans for Fund 3 will be announced at a later date. 

About Front Porch Venture Partners

Front Porch Venture Partners (FPVP) offers a diversified investment opportunity across top-tier venture capital funds and early stage companies in the Southeast.  Founded in 2019, the firm uses a pooled investment vehicle (or 'fund') to invest across some of the Southeast’s best Venture Capital firms, as well as make direct investments in the most promising startups discovered through their fund partners and other connections to the region's entrepreneurial ecosystem. This fund allows investors to gain exposure to a broad set of the region’s most promising startups through one simple investment. 

NASHVILLE, Tenn., Jan. 25, 2024 /PRNewswire/ -- Krepling, an e-commerce channel management platform, announced it has raised a $3.3 million seed round and launched a fully centralized universal builder, offering merchants a consolidation of tools and services to foster personalized customer experiences. The round includes the participating investors: LAUNCH, Brickyard, Front Porch Ventures, 11 Tribes Ventures, Colabora Ventures, and Broadshade Investments. The funding will be used to further expand the Krepling team in several departments and enhance the capabilities of simplifying e-commerce integrations, without the need for outside agencies or developers. Read more here.

From Yahoo Finance — UpLift, a behavioral health company, today announced it has raised $10.7 million in Series A financing. The round was led by new investor Ballast Point Ventures, a late-stage venture capital and growth equity fund, with participation from Kapor Capital and Front Porch Ventures.

FRONT PORCH VENTURE PARTNERS ANNOUNCES THE CLOSING OF ITS FIRST FUND

Innovative hybrid fund delivers more capital for entrepreneurs throughout the Southeast and enhanced diversification for startup investors in the Southeast and beyond

February 21, 2022

RALEIGH – Front Porch Venture Partners (FPVP), a Research Triangle based venture capital firm investing in rapidly growing startup ecosystems in the Southeast, announced the final close of its oversubscribed $5 million first fund on January 21, 2022.  The firm deploys an innovative hybrid strategy that includes both fund and direct startup investments, bringing diversified exposure of venture opportunities to a broader set of investors than ever previously available. 

“At Front Porch we set out to be more than just capital.  We want to be a true connector in the startup ecosystem across the Southeast and bring a broader set of investors into the venture community – both financially and operationally,” said Managing Partner Gregg Bordes. “With our hybrid approach you can write one check and get exposure to 250+ startups and leverage the value-add of top VCs throughout the region. This differentiated strategy provides diversification to a much larger group of accredited investors and family offices than what was previously available in the market.”

Since January 2020, FPVP has deployed capital to 14 top-tier venture funds based in North Carolina, South Carolina, Georgia, Tennessee, and Florida.  These fund partners include many of the most well known firms in the region, plus a targeted group of emerging fund managers, extending from pre-seed through growth equity.  

To complement its core fund partnerships, FPVP has also invested in the startups of 12 impressive founders throughout the Southeast.  The firm is targeting a total of 15-20 direct ‘best ideas’ investments in the Fund 1 portfolio and is actively engaging with early stage companies across the region.

“In the last several years, our venture ecosystem has grown tremendously as measured by the amount of dollars flowing into startup and scaling entrepreneurial companies,” said Hunter Young, Head of Capital at the Council for Entrepreneurial Development (CED).  “While more mega-deals have driven this overall progress, the advancement has not been as pronounced in the earlier venture and growth stages in terms of number of companies funded.  By both supporting venture and growth capital managers in the southeast, as well as directly investing into early stage companies, Front Porch Venture Partners will play an integral role in recycling capital back into our region’s entrepreneurial ventures.”

Front Porch Venture Partners expects to launch Fund 2, which will utilize a similar hybrid investment strategy, with a $20 million target later in 2022. 

About Front Porch Venture Partners

Front Porch Venture Partners (FPVP) offers a diversified investment opportunity across top-tier venture capital funds and early stage companies in the Southeast.  Founded in 2019, the firm uses a pooled investment vehicle (or 'fund') to invest across some of the Southeast’s best Venture Capital firms, as well as make direct investments in the most promising startups discovered through their fund partners and other connections to the region's entrepreneurial ecosystem. This fund allows investors to gain exposure to a broad set of the region’s most promising startups through one simple investment.