RESEARCH TRIANGLE PARK – J.D. Vance, who is best-selling author of “Hillbilly Elegy,” is launching a new venture capital firm that will target startups outside of Silicon Valley. Among his targets: The Triangle.
It’s called Narya.
“Vance’s 2017 bestselling memoir, ‘Hillbilly Elegy,’ gave voice to rural, working-class resentment in left-behind America that helped Trump win the White House, and he has been a strong proponent of investing in often-overlooked places,” reports Axios.
“His firm, headquartered in Cincinnati, will invest in startups in under-served cities such as Salt Lake City, Atlanta and Raleigh-Durham, according to a source familiar with the strategy.”
Vance has worked with AOL founder Steve Case and Revolution LLC, which targets firms outside VC hotspots such as the Valley.
So far Vance has raised $93 million, Axios says.