Reno Seed Fund

Reno Seed Fund is Nevada's most active angel fund, established in early 2019, with the goal of driving innovation, creating jobs, and building wealth in Northern Nevada. The fund focuses on leading investments in the region and extends its activities with partnership investments across the Mountain West. It employs a rigorous due diligence process, considering companies across a broad selection of industries, including Software as a Service (SaaS), Internet of Things (IoT), healthcare, e-commerce, and consumer products. The fund typically invests in post-revenue or near-revenue companies with pre-money valuations between $3 million and $6 million. Investments range from $50,000 to $500,000, with 70% of the fund earmarked for companies with a significant presence in Northern Nevada. The fund maintains active contact with each company in its portfolio on an ongoing basis, providing guidance and support to foster growth and success.

Reno Seed Fund's investment criteria include a preference for post-revenue or near-revenue businesses with pre-money valuations under $20 million, targeting $5 million to $10 million. The fund seeks rapidly scalable businesses with a believable 5-year plan to achieve $10 million or more in annual recurring revenue. A significant operating presence in Northern Nevada is a must-have if the fund is leading the round. The fund also values multiple-founder teams and unique, defensible intellectual property. The investment process involves submission, screening, learning, due diligence, and a final decision by the Investment Committee. The fund has invested in 24 companies, generating an additional $10 million in co-investments, and has a network of over 50 limited partners who are successful business owners, founders, and investors dedicated to Northern Nevada and the rapidly expanding entrepreneurial ecosystem.

Reno Seed Fund's mission is to drive innovation, create jobs, and build wealth in Northern Nevada by partnering with driven, talented entrepreneurs in technology-enabled companies. The fund leads and co-leads early-stage venture investments in Northern Nevada and invests across the Mountain West alongside its syndication partners. The fund employs a highly selective screening process, makes significant investments, and provides ongoing counsel and guidance to its portfolio companies. The fund's operations committee leverages a deep bench of successful founders, industry leaders, and entrepreneurs to guide the next generation of executives, maintaining active contact with each company in its portfolio on an ongoing basis. The fund's focus on Northern Nevada and its commitment to supporting local entrepreneurs contribute to the growth and development of the region's economy and innovation ecosystem.