Local Business Leaders Launch Chattanooga Renaissance Fund

Tuesday, March 15, 2011

A group of Chattanooga business leaders have launched a formalized angel capital fund aimed at encouraging local entrepreneurship and fueling economic growth. The Chattanooga Renaissance Fund (CRF) will provide entrepreneurs with access to capital investment as well as mentorship from the groupʼs advisory board and limited partners. The Fund’s limited partners represent a group of business executives from a variety of sectors that are committed to helping entrepreneurs grow their business.

Charlie Brock, a partner at FourBridges Capital Advisors and one of CRFʼs general partners, said, “As Chattanooga continues to build a reputation as a center of major economic activity in the South, itʼs important that there is a place locally for early stage entrepreneurs to access capital and have the ability to interface with experienced business mentors."

CRF was inspired by both Chattanoogaʼs deep roots in entrepreneurism and the opportunity to leverage the positive momentum from recent local investments by several multinational corporations.

“The Chattanooga area is steeped in the tradition of entrepreneurs who have been successful and then given back to the community,” said David Belitz, a CRF general partner and CFO of Lupton Co. “In many ways the Renaissance Fund is focused on re-establishing the entrepreneurial community that will carry forward the areaʼs legacy of entrepreneurism which will continue the growth and development of our city.”

The angel capital fund has raised over $3 million from dozens of Chattanooga area investors and six general partners, who will be tasked with managing the investments and overseeing the vetting process. In addition to Mr. Brock and Mr. Belitz, CRF is led by Stephen Culp, founder of Smart Furniture and Delegator, Inc., Roddy Bailey, partner at Miller & Martin, Jack Studer, a local venture capitalist and transportation executive Miller Welborn.

Local entrepreneurs are encouraged to submit business plans online at www.chattanoogarenaissancefund.com where more information is available about the fund, its purpose and its leadership. CRF will also consider applications from existing companies seeking additional capital to enable growth.

Chattanooga Renaissance Fund is a for-profit angel capital fund started and funded by local business leaders with the mission of enabling local entrepreneurs with capital investment and business mentorship in order to pave the way for a new generation of entrepreneurs to impact the Chattanooga area.

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