DURHAM – The Triangle Tweener Fund launched about six weeks ago, and the fund has already made investments in four Triangle companies, Scot Wingo, the fund’s founder and general partner told WRAL TechWire today.

Among the fund’s new portfolio companies is Bristles, Inc., co-founded by Tina Tang.  According to a LinkedIn post published by Scot Wingo, the company “leverages an advanced ML/image processing technology to help consumers navigate and optimize the home improvement world.”

The Triangle Tweener Fund has invested in Vertroos Health, which is building a platform for mental health professionals known as Belongly.

The fund has also made an investment in MemberHub, which WRAL TechWire recently profiled.

Raleigh’s MemberHub raises $3.25M, plans to build ‘first socially-minded commerce network’

The fourth company is being kept confidential at the request of the founding team, the post noted.

Expanding number of LPs

In his LinkedIn post, Wingo also added additional context, noting that the fund continues to add new investors.  The fund now has more than 80 limited partners, said Wingo, after having launched with backing from some 20 area investors and entrepreneurs.

Those investors have committed a total that would represent $2.1 million per year, Wingo said.  New notable investors that Wingo mentioned by name include:

  • Glen Caplan – Partner at Robinson Bradshaw
  • Drew Schiller – CEO at Validic
  • Jayant Khadilkar – CEO/Founder of ImpactKarma
  • Cameron Walker – VP/GM @ VF Corp
  • Jared Pelo – CCPO at Nuance
  • Neil Bagchi – Bagchi Law
  • Lee Whitley – Barfield Revenue Consulting, CBC
  • Jordan Weinstein, a former ChannelAdvisor employee who now works at K4Connect

New investment fund targets Triangle startups with backing from 20+ founders

How it works

Wingo told WRAL TechWire in December that the fund’s model is itself innovative, and uses a new “rolling fund” subscription model that is powered by AngelList.

Here’s how it works.  Limited partners, or LPs, can join the fund with a minimum commitment of $5,000 per quarter, or $20,000 annually.  That’s for the first year.  After that first year, Wingo told WRAL TechWire in December, those limited partners can continue, increase, decrease to the minimum, or pause their commitments to the fund.