The Southern Appalachian Fund

The Southern Appalachian Fund is a venture capital investment firm headquartered in Oak Ridge, Tennessee, with an additional office in London, Kentucky. The firm specializes in providing growth capital and early-stage financing, focusing on small businesses in the interactive home entertainment, manufacturing, technology, and software sectors within southern Appalachia, particularly in Kentucky, Tennessee, and the Appalachian counties of Georgia, Alabama, and Mississippi. The firm typically invests between $200,000 and $600,000, often in multiple rounds, and aims to take an equity stake by acquiring preferred stock. Its investment strategy includes working closely with portfolio companies, offering operational assistance and mentoring to enhance their growth potential. The Southern Appalachian Fund generally looks to exit its investments within four to seven years, primarily through external sales, mergers, or management buyouts, while remaining open to other exit options such as initial public offerings.

Raymond Moncrief

CEO, Chairman of the Board and President

8 past transactions

Tricycle

Series B in 2009
Tricycle, Inc. is a software company based in Chattanooga, Tennessee, founded in 2002, that focuses on providing innovative tools for carpet sampling and design applications. Its flagship product, Tryk, is a sampling software that combines yarn, machine, and design information to generate realistic carpet images. This technology aids commercial interiors manufacturers, interior designers, and architects by streamlining the carpet specification process and minimizing sample waste. As a subsidiary of Shaw Industries Group, Tricycle aims to reduce petroleum use and landfill waste within the commercial carpet industry through its digital solutions.

Protein Discovery

Series C in 2008
Protein Discovery, Inc., a life sciences company, develops and commercializes sample preparation technologies that enable protein and peptide analysis using mass spectrometry. It provides Gelfree 8100, a fractionation system that partitions complex protein mixtures into liquid-phase molecular weight fractions; Passport 1200, a sample preparation system that enriches low molecular weight proteins and peptides, and removes matrix interferences for high-throughput quantification applications; and PPS Silent Surfactant, a protein preparation reagent that solubilizes membrane proteins and cleaves to eliminate detergent interference. The company also provides UPX universal protein extraction kit for detergent extraction of proteins from cells and tissues. It serves life science researchers and drug development scientists. The company markets its products through Agilent Technologies, as well as online in the United States and internationally. Protein Discovery, Inc. was founded as Qgenics Biosciences, Inc. in 2001 and changed its name to Protein Discovery, Inc. in April 2004. The company is based in Knoxville, Tennessee.

SemiSouth Laboratories

Series A in 2006
SemiSouth Laboratories create products for a variety of power electronics applications such as solar and wind inverters, telecom rectifiers, high-efficiency power supplies, and hybrid-electric drives.

SemiSouth Laboratories

Series A in 2005
SemiSouth Laboratories create products for a variety of power electronics applications such as solar and wind inverters, telecom rectifiers, high-efficiency power supplies, and hybrid-electric drives.

Eonstreams

Venture Round in 2005
Eonstreams has been a streaming services provider for over 3 years and has a staff of experts with over 6 years experience in the industry. They possess the infrastructure, expertise, and experience to provide complete turn-key solutions. Their multi-faceted approach focuses on leveraging audio/video content and maximizing revenue generation through the medium of the Internet. Eonstreams is based in Knoxville, Tennessee and has clients around the nation and across the globe!

NuMarkets

Venture Round in 2004
NuMarkets was an eBay consignment company that received items on consignment and sold them using eBay. On February 10, 2007, NuMarkets, LLC sold its assets to a private Internet retailer in Chattanooga. NuMarkets of Chattanooga utilizes NuMarkets SimpleTM enterprise software. These management tools include quality control and payment processing, as well as detailed real-time sales reports that are accessible from any computer interface. NuMarkets of Chattanooga has headquarters in a 50,000 square-foot operations and fulfillment center in Chattanooga, Tennessee, and works with manufacturers, retailers, and other businesses, enabling them to process, sell, and ship new, excess, and consigned inventory globally. NuMarkets' SimpleTM enterprise software enables NuMarkets of Chattanooga to manage its backend commerce services and dramatically increase the volume of product it sells.

Tricycle

Series A in 2004
Tricycle, Inc. is a software company based in Chattanooga, Tennessee, founded in 2002, that focuses on providing innovative tools for carpet sampling and design applications. Its flagship product, Tryk, is a sampling software that combines yarn, machine, and design information to generate realistic carpet images. This technology aids commercial interiors manufacturers, interior designers, and architects by streamlining the carpet specification process and minimizing sample waste. As a subsidiary of Shaw Industries Group, Tricycle aims to reduce petroleum use and landfill waste within the commercial carpet industry through its digital solutions.
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