Editor’s note: Local Tech Wire has now profiled more than 70 venture capital and investment firms operating in the Carolinas and Georgia. One appears each business day. Matthew Burns, Worth Civils and Daniel Pearson compiled the series.

WASHINGTON,Founded in late 2000, Glenwood Venture Partners is a network of about a dozen angel investors located primarily in eastern North Carolina.

Patrick Nash, a business development expert in the health care field, and Jim Blount, who formerly worked in the U.S. Treasury Department, lead it.

Glenwood doesn’t have a venture fund, preferring to do deals individually as members hear about promising companies and spread the word. The group provides seed funding of up to $500,000 per company.

Given Nash’s background, the organization favors life sciences and bioinformatics deals, and it also likes opportunities in the often-overlooked eastern region of North Carolina. The group’s only funding to date is in Synthematix, a Durham company whose software platform allows pharmaceutical companies to build and mine databases of chemical reactions.

Here’s the skinny:

Featured firm: Glenwood Venture Partners

Mailing address: 300 Isabella Ave., Washington, NC 27889

Phone number: (252) 946-6225

Web site:
www.glenwoodvp.com (Under construction)

Management Team:

Patrick F. Nash
Jim Blount

Focus of firm: Invests in companies in the fields of life sciences and bioinformatics.

Size of current fund: No fund

Money under management: None

Names of companies funded:

Synthematix

How many new deals do you expect to fund in 2002: One to two

In what size range: $100,000 to $500,000

Sweet Spot (types of deals, stage of the company): Seed
stage.

Most important attributes for companies seeking funding: Experienced management team.

What differentiates you: We are a seed-stage angel network in eastern North Carolina.

Note: Previous profiles can be found by going to Search, selecting Venture Watch category, and setting date parameters between Feb. 1 and today.