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.


Chattanooga Chamber Presents Business Calendar For March 28-31

TUES/28 Reality Check at Ivy Academy 9:45-11 a.m. Mile Straight Baptist Church: 8448 Springfield Rd. Reality Check teaches 9th graders budgeting and emphasizes the connection between education and income by having roleplay as heads of household with a set budget. To volunteer for this Chattanooga Chamber career readiness program, contact Cathy Humble at  423.763.4321 ... (click for more)

TN Supreme Court Holds That Indigent Prisoner's Case Was Properly Dismissed

The Tennessee Supreme Court has held that an indigent prisoner’s case was properly dismissed pursuant to Tennessee Code Annotated section 41-21-812 when the prisoner had outstanding unpaid court costs from prior litigation.  Tennessee Code Annotated section 41-21-812 authorizes the rejection of certain new claims in court from an indigent inmate who has unpaid fees, taxes, ... (click for more)

Storm Costs EPB $2.5 Million; Smart Grid Helped Ease The Pain

Tuesday night's fierce storm cost EPB an estimated $2.5 million, President David Wade said Friday. He said the city utility will have to bear all the cost - unlike when it got federal aid after spending $18 million following tornadoes that raked the Chattanooga area in 2012. Mr. Wade said EPB's Smart Grid helped ease the pain, bringing back online about 27,000 affected customers ... (click for more)

1 Killed, 1 Injured In Brainerd Shooting

One person was killed and a second person injured in a shooting in Brainerd on Thursday night. The call was to 3301 Pinewood Ave. at 7:05 p.m. It was reported that a silver vehicle was seen leaving the scene. One of the persons shot, 23-year-old Antonio Baldwin, died during surgery. The injury to William Daniel, 21, is not life-threatening. Police said both of the ... (click for more)

Slaxxon Regret

Back in the seventies my three oldest brothers had a buddy named Steve Slack. “Slack” was a star soccer player at Baylor and he grew up on Lookout Mountain, which is where I grew up. He and Jimmy, Henry and Bill went to the University of Virginia where they were roommates in an old, beat up house that was painted pink. Naturally, the place became known as the “Pink Palace” but lest ... (click for more)

Roy Exum: The Scottsboro Boys

There is a good-sized train tunnel that runs under the northern tip of Lookout Mountain, right next to Cummings Highway. It was inside that tunnel on this very weekend 86 years ago, that the worst tragedy in the fabled history of the South was born. This was during the tight grip of the Depression and about two dozen hobos had jumped the train from the time it left Southern Railway's ... (click for more)