TLDR:
- Greenville-based NEXT launched a $6 million capital fund in January 2023 and hopes to grow it to $12 million.
- Founderville, previously called the Founders Fund, is focused on funding tech startups and building an ecosystem in Greenville to retain and attract founders.
Greenville-based NEXT has launched a $6 million capital fund aimed at funding tech startups in the Carolinas and Georgia. Since its inception in January 2023, the fund has already invested nearly $3 million in various companies, with plans to expand the fund to $12 million. Founderville, formerly known as the Founders Fund, is not just a venture fund but a community of former founders and executives who are invested in nurturing the next generation of Greenville-based startups.
The fund has currently invested in companies such as WAVS Custom, Vicinity Capital, Pixlmob, Digital Site Box, Strata Platforms, 6AM City, and Rymedi. Through partnerships with institutions like Furman University’s The Hill Institute for Innovation and Entrepreneurship, Founderville aims to attract tech startups to Greenville for a one-year residency program at Flywheel Greenville, guaranteeing a minimum investment of $100,000 for each participating company along with subsidized housing and living expenses.
Co-founder Shay Houser believes that building a startup ecosystem in Greenville is crucial for the city’s future, especially as the population ages and the need for new businesses grows. By investing in tech startups, Founderville hopes to not only attract and retain talent but also create a ripple effect of economic growth that benefits various industries in the region.
Additionally, Houser points out the need to address the exodus of Clemson University computer science graduates from both Greenville and South Carolina, emphasizing the importance of creating a compelling tech landscape that can keep local talent from leaving the state. By fostering a supportive ecosystem for startups, Founderville aims to see businesses thrive and contribute to the overall economic development of the region, creating a win-win situation for all involved.
