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A new fund for early-stage Triangle startups launched Monday, backed by local early-stage investment firm Primordial. The rolling fund is seeking investors, with a minimum investment commitment of $5,000 per quarter for four quarters. Check out the details.
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This funding represents the company’s first debt and security raise. Since the company’s first raise in 2015, all funding to date has been equity only, totaling more than $86 million, according to SEC filings.
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Precision Fermentation last raised $2 million from two investors in March of this year, and were awarded two patents in June. Now it has more cash.
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The recent funding for the new venture includes 55 investors according to the SEC filing, each contributing a minimum of $100,000 toward the $15.5 million raised so far.
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“The ’24 vintage for venture capital is likely to be one of the best vintages in the past three or four decades,” says Mark Yusko of Morgan Creek Capital.
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A new Charlotte-based company, N3xt Inc., has raised $6.5 million in equity financing according to an SEC filing. And it has plenty of backers.
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A nutrition-focused “food as medicine” program, Eat Well, has been awarded $10 million from the state—the largest investment ever made in a healthy food prescription program in the United States. Take a look.
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Wilmington-based Live Oak Bank was the most active lender of SBA 7(a) loans for the sixth consecutive year, according to the U.S. Small Business Administration.
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The company last raised nearly $1.4 million in funding in March of this year. Since its founding in 2018, the company has raised more than $2.8 million in debt-equity.
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Applications are now being accepted for a new round of grantmaking from the One North Carolina Small Business Program, a key source of capital for North Carolina’s emerging technology companies.
