The Southern Appalachian Fund

The Southern Appalachian Fund is a $12.5 million venture capital firm based in Oak Ridge, Tennessee, with an additional office in London, Kentucky. It invests in early and expansion-stage companies operating in the interactive home entertainment, manufacturing, technology, and software sectors, with a focus on small businesses in southern Appalachia, particularly in Kentucky, Tennessee, and the Appalachian counties of Georgia, Alabama, and Mississippi. The fund typically invests between $200,000 and $600,000 in its portfolio companies, often leading investment syndicates or co-investing with other institutional investors and seasoned angel investors. It seeks to generate market-rate returns for its investors while promoting shared and sustainable business growth and wealth creation in its target region. The fund's mission is to provide not only equity capital but also operational assistance, active board participation, and mentoring to its portfolio companies.

Ray 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. It specializes in providing software tools for carpet sampling and design, primarily targeting the commercial interiors sector. Its flagship product, Tryk, is a sampling software that digitally integrates yarn, machine, and design information to generate realistic carpet images, thus facilitating the carpet specification process. Tricycle's offerings also include a suite of design software that features both 2D and 3D design tools, enabling interior designers, architects, and carpet manufacturers to streamline their workflows while minimizing sample waste. As of 2017, Tricycle operates as a subsidiary of Shaw Industries Group, Inc. The company is committed to reducing petroleum use and landfill waste within the commercial carpet industry.

Protein Discovery

Series C in 2008
Protein Discovery is a life sciences company based in Knoxville, Tennessee, focused on developing and commercializing sample preparation technologies for protein and peptide analysis using mass spectrometry. The company offers several key products: the Gelfree 8100 fractionation system, which separates complex protein mixtures into liquid-phase molecular weight fractions; the Passport 1200 sample preparation system, designed to enrich low molecular weight proteins and peptides while removing matrix interferences for high-throughput quantification applications; and PPS Silent Surfactant, a reagent that solubilizes membrane proteins and cleaves to eliminate detergent interference. Additionally, Protein Discovery provides the UPX universal protein extraction kit for detergent extraction of proteins from cells and tissues. These products are marketed through Agilent Technologies and online, serving life science researchers and drug development scientists both domestically and internationally. Founded in 2001 as Qgenics Biosciences, Inc., the company rebranded to Protein Discovery, Inc. in April 2004.

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.

Tier 1 Performance

Series A in 2005
Tier 1 Performance Solutions, LLC specializes in online learning and knowledge management solutions tailored for commercial, non-profit, and government organizations. Established in 1993 and headquartered in Covington, Kentucky, the company offers a range of products designed to enhance learning and performance. Among its key offerings is Performance1, a content management system that streamlines the authoring and delivery of performance-related content. Additionally, the Library1 system provides a diverse collection of media assets, including illustrations and animations, to support various learning initiatives. Method1 serves as a structured approach for developing learning modules, while the company also provides online help and electronic performance support systems to facilitate software deployment.

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, established in 2018, is a Knoxville, Tennessee-based company specializing in streaming services. With a team boasting over six years of industry experience, Eonstreams offers comprehensive, end-to-end solutions. Their platform provides users worldwide with access to diverse content, featuring video streaming, customizable playlists, and user-friendly interfaces, ensuring a seamless, enhanced viewing experience across multiple devices.

NuMarkets

Venture Round in 2004
NuMarkets is a company based in Chattanooga, Tennessee, that specializes in eBay consignment services. It offers a platform that enables individuals and businesses to sell items online, along with operating shipping centers to facilitate these transactions. The company utilizes its proprietary SimpleTM enterprise software, which includes tools for quality control, payment processing, and real-time sales reporting. This software enhances the efficiency of backend commerce services and significantly increases the volume of products sold. NuMarkets collaborates with manufacturers, retailers, and other businesses to manage, sell, and ship new, excess, and consigned inventory on a global scale. The company operates from a sizable 50,000 square-foot operations and fulfillment center, ensuring streamlined processes for its clients.

Tricycle

Series A in 2004
Tricycle, Inc. is a software company based in Chattanooga, Tennessee, founded in 2002. It specializes in providing software tools for carpet sampling and design, primarily targeting the commercial interiors sector. Its flagship product, Tryk, is a sampling software that digitally integrates yarn, machine, and design information to generate realistic carpet images, thus facilitating the carpet specification process. Tricycle's offerings also include a suite of design software that features both 2D and 3D design tools, enabling interior designers, architects, and carpet manufacturers to streamline their workflows while minimizing sample waste. As of 2017, Tricycle operates as a subsidiary of Shaw Industries Group, Inc. The company is committed to reducing petroleum use and landfill waste within the commercial carpet industry.
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