GREATER Nashville Venture Capital Association (GNVCA), which registered in Tennessee 474 days ago, has outlined its prospective 2025 events and is stealthily expanding its board of directors, while shifting into higher-gear to onboard new members, sponsors and other allies.

Nonprofit GNVCA says its mission is to serve as a hub "to facilitate capital connections that unlock investment opportunities so [the region's] most innovative entrepreneurs can build successful companies that create jobs and contribute to our region's growth..."

GNVCA membership spans "VCs, angel investors, university and other endowments, corporate venture partners and professional service providers supporting the industry."

Ahead: On Jan. 22, 2025, GNVCA's late-afternoon program -- "How to Raise a Fund" -- is now accepting registrations by GNVCA members and by non-members, with moderator and speakers from Alliance Bernstein, Edison Partners, FINTOP Capital, and Health Velocity Capital.

Readers considering attending that event might also consider that GNVCA annual and two-year membership options and the ranges of dues for 2025 and 2026, or pro-rated portions thereof, are easily accessed in narrative form via the "Join the GNVCA" button.

The formal announcement of the 501c6 GNVCA came during a public event Nov. 14, 2023, held at VU's Owen Graduate School of Management.

Eight months ago, on April 8, the GNVCA board's eight founding members onboarded Judith Byrd as the group's first executive director. Byrd's career in healthcare, communications, polity, governance and more is summarized here.

Judith Byrd

Asked today to reflect on her GNVCA role, Byrd, 52, told VNC, "It's an honor to stand up an industry association to support intentional growth for our region. I think the venture capital industry is ready to join because collaboration is part of the Nashville story. We know that our success will play out over time, and we are continuing to listen closely to the community as we shape this organization together. Beyond this membership drive we know we can only bring our partner members back to the table each year if we deliver genuine value to our members through great programs, meaningful connections, and credible opportunities. The GNVCA, staff and board has accepted this challenge, and we are particularly grateful to all the VCs who have placed their trust in our vision.

In the past year or so, most of those with whom we have discussed GNVCA have indicated they think the odds favor GNVCA's transformative success.

Bruce Evans

The reason for optimism most cited: The fact that GNVCA Founding Chairman Bruce Evans, 65, is chairman of the Vanderbilt Board of Trust (and a VU alumnus-donor of at least $21MM); a senior advisor to and former managing partner of Boston-based Summit Partners; managing partner of his own Evans Capital; and, a former member of the board of the National Venture Capital Association (NVCA), among other roles.

Evans's NVCA experience might prove helpful as GNVCA sorts its realistic options for how broadly to chart its local, U.S., and global ecosystem perimeters.

Update 11 Dec: Evans told VNC, "Risk capital of the type provided by venture capitalists is a critical component of innovation and entrepreneurial success. The Greater Nashville Venture Capital Associations goal is to help drive the organization and growth of Nashville's venture community for the benefit of the city and our wider region. I am optimistic about the possibilities."

VNC notes there are only five* Tennessee-based VCs showing today among perhaps 450 member firms of various stripes named on the NVCA website. NVCA says the nation had 3,417 VC firm as of YE 2023.

We found that GNVCA is listed as one of 18 Regional Groups associated with NVCA.

Our findings via those NVCA regional groups' websites, Guidestar 990 filings, news coverage, etc., indicated that each group is free to define its region (portions of a state, multi-state assemblies, etc.). Some groups seemed to have been sorely tried by venture trends and economic forces.

In previous years, Evans has demonstrated his interest in improving Vanderbilt and VU alumni involvement in the Venture sector. Evans presentations on related matters: Lecture 2018 | FMRC 2015 |

Given that Vanderbilt University support of GNVCA is currently essential, we'll add that the VU Board of Trust's vice chairman is Jeff Rothschild, a fellow VU alumnus and a Pal Alto-based investor. Moreover, our quick review of the 42-person VU Board of Trust roster indicates the majority have impressive investment, finance and related business expertise.

Among other factors, as widely reported, VU Chancellor Diermeier is a bold advocate of innovation within Vanderbilt and beyond, with strong reinforcement by VU Provost Cybele Raver and Vice Provost Padma Raghavan (the latter also a GNVCA board member). Related: Nashville Innovation Alliance.

It almost goes without saying that GNVCA is stepping onto the venture stage amid considerable entrepreneurial, investment and innovation ferment within Tennessee, the U.S. and the many other nations.

Fortunately, Tennessee has not only been growing its ranks of VCs with dry powder (homegrown or move-ins), it has also been executing via TN-ECD and LaunchTN, et al, the allocation of $117MM+ of funding provided via federal SSBCI 2.0 investment and lending programs.

Among many other change-making factors that could heighten the "network effect" in Tennessee's venture sector is the fact that many venture-oriented investment firms -- including, e.g., Shore Capital (Chicago), gener8tor and Alchemist Accelerator (both Bay Area), and VentureSouth (Greenville) -- have not only established presence in Tennessee, but may bring with them valuable connections to scores of co-investors.

Fortunately, Byrd said she and her board are well advised.

She said GNVCA is now a pro bono client of attorneys with Holland & Knight.

Also, GNVCA draws on LBMC for HR/Payroll/Accounting; and, it banks primarily with Pinnacle Financial Partners.

She emphasized that leaders and teams of peer nonprofit organizations have been very helpful to GNVCA, including Tennessee Technology Development Corporation dba Launch Tennessee, Nashville Entrepreneur Center, Nashville Health Care Council, and Vanderbilt Technology Transfer and Commercialization.

We'll explore with Byrd her longer list of GNVCA sponsors, ad hoc contractors and volunteers -- as well as her platoons of passionate personal mentors and other supporters of her GNVCA work. Then, we'll update this story, as warranted.

*Note: Regarding Tennessee's reported 5 NVCA members: Although 1 of Tennessee's five listed groups was listed as based in Knoxville, that is no longer correct. All five have Tennessee presence in the form of some staffing in the Greater Nashville Area. VNC

.last edited 1019 cdst 11 December 2024