Editor’s note: Each Monday through Friday, Local Tech Wire features a profile of a venture capital or investment firm. After profiling Southern Capitol Ventures on Friday, the series begins profiling firms from Atlanta. The series has been compiled by Matthew Burns and Daniel Pearson. Founded in 1999 by a pair of former Bank of America investment bankers, Frontier Capital concentrates on what it calls “shepherds of change” – business service companies that tap new technologies.

Some focal points for its investments include business intelligence, data storage applications and Internet infrastructure.

Frontier has a $46 million fund, which is only one-third invested in companies such as Peak 10 and MindBlazer in Charlotte, TriVirix International in the Triangle and Digital Envoy and e-Attorney in metro Atlanta. The firm tries to avoid extensive technology or application development risk, preferring companies that are generating revenue and nearing profitability. Its investments typically run between $500,000 and $3 million each.

The firm is led by managing partners Richard Maclean and Andrew Lindner, who worked respectively for Blue Ridge Investors and Atlanta’s Stephens Inc. in addition to their time at BofA. They also are joined by two other BofA veterans, Paul Stackhouse and Mike Pappas, as general partners

Here’s the skinny:

Featured firm: Frontier Capital

Mailing address:

1900 South Boulevard
Suite 300
Charlotte, NC 28203

Phone number: (704) 414-2880

Web site: www.frontierfunds.com

Management Team:

Paul Stackhouse, general partner
Richard Maclean, general partner
Andrew Lindner, general partner
Mike Pappas, venture partner
Michael Ramich, principal

Focus of firm: We provide venture and growth capital to technology and
non-technology high-growth businesses. We invest in entrepreneurs seeking to build
companies that address immediate needs in large markets.

Size of current fund: $46 million

Companies funded over the last five years (amount and round for each

Digital Envoy
Peak 10
Gazelle Consulting

How many new deals do you expect to fund in 2002: Currently none

In what size range: $500,000 to $3 million

Sweet Spot (types of deals, stage of the company): Frontier provides
venture and growth capital to technology and non-technology high-growth
businesses. We invest in entrepreneurs seeking to build companies that address
immediate needs in large markets.

Most important attributes for companies seeking funding: Frontier
provides capital and support for enthusiastic and dedicated entrepreneurs
committed to building high-growth technology and non-technology businesses. We
are located in Charlotte and have a regional focus on the Southeastern and
Mid-Atlantic States.

What differentiates you: Frontier has assembled a cohesive and complimentary team of partners, advisors, and strategic relationships. This team contributes a powerful and unique blend of experience and perspective to our portfolio companies. We set demanding expectations that apply to both our partnership and our portfolio.

Friday’s profile: Southern Capitol Ventures

Previous profiles can be found by searching Venture Watch category. The series thus far:

Feb. 11: Academy Venture Funds
Feb. 12: Atlantic Group
Feb. 13: Aurora Fund
Feb. 14: Capital Investment Partners
Feb. 15: Carolina Financial Group
Feb. 18: Carousel Capital
Feb. 19: Catalysta Partners
Feb. 20: Charlotte Angel
Feb. 21: Draper Atlantic
Feb. 22: Eno River
Feb. 25: Halifax Group
Feb. 26: Intersouth Partners
Feb. 27: Kitty Hawk Capital
Feb. 28: NC Enterprise Corp.

March 1: NC Technological Development Authority
March 4: Oberlin Capital
March 5: A.M. Pappas
March 6: Piedmont
March 7: RBC Centura
March 8: Redleaf Group
March 11: Remington Capital
March 12: River Cities
March 13: Research Triangle Ventures
March 14: Southeast Interactive
March 15: Tri-State Investment Group
March 18: Trelys
March 19: truePilot
March 20: Wakefield Group