The Southern Appalachian Fund

The Southern Appalachian Fund is a venture capital firm based in London, Kentucky, focusing on providing equity capital and operational assistance to early-stage and high-growth companies in southern Appalachia, specifically in Tennessee, Kentucky, and the Appalachian counties of Georgia, Alabama, and Mississippi. The firm typically invests between $200,000 and $600,000 in its portfolio companies, targeting sectors such as manufacturing, technology, and software. It aims to support businesses with strong management teams and high growth potential, often participating in multiple funding rounds. The fund has a mission to generate market-rate returns for its investors while promoting economic development and job creation in low-income areas. The Southern Appalachian Fund is recognized as a New Markets Venture Capital Company and has access to debt guaranteed by the United States Small Business Administration. It typically seeks exits through external sales, mergers, management buyouts, or other strategic options. Currently, the fund is fully invested and is not seeking new investment opportunities.

L. Raymond Moncrief

CEO, Chairman of the Board and President

8 past transactions

Tricycle

Series B in 2009
Tricycle, Inc. provides software tools for carpet sampling and design applications. It offers Tryk, a sampling software tool for carpet specification process; and a suite of design software for carpets and fabrics. The company serves commercial interiors manufacturers, interior designers, architects, and the carpet industry. Tricycle, Inc. was founded in 2002 and is based in Chattanooga, Tennessee. As of October 12, 2017, Tricycle, Inc. operates as a subsidiary of Shaw Industries Group, Inc.

Protein Discovery

Series C in 2008
Protein Discovery, Inc. is a life sciences company specializing in the development and commercialization of innovative sample preparation technologies for protein and peptide analysis via mass spectrometry. The company offers several key products, including the Gelfree 8100 fractionation system, which separates complex protein mixtures into liquid-phase molecular weight fractions, and the Passport 1200 sample preparation system, designed to enrich low molecular weight proteins and peptides while eliminating matrix interferences, facilitating high-throughput quantification. Additionally, Protein Discovery provides the PPS Silent Surfactant, a reagent that solubilizes membrane proteins and reduces detergent interference. The UPX universal protein extraction kit is also available for detergent extraction of proteins from cells and tissues. Catering to life science researchers and drug development scientists, Protein Discovery markets its products both through Agilent Technologies and online, reaching a global audience. Founded in 2001 in Knoxville, Tennessee, the company was originally named Qgenics Biosciences, Inc. before rebranding to its current name in 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 provides online learning and knowledge management solutions to commercial, non-profit, and government organizations. It offers Performance1, a performance content management system that accelerates content authoring and delivery; Library1 system, a collection of media assets, such as illustrations, animations, images, interactions, and activities; Method1, a process for developing learning modules; and online help and other electronic performance support systems for software deployment. The company was founded in 1993 and is based in Covington, Kentucky.

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 is a company that specializes in eBay consignment services, facilitating the online sale of items for both individuals and businesses. Originally established as an eBay consignment company, it transitioned to operating under the brand NuMarkets of Chattanooga after selling its assets in 2007. The company employs NuMarkets SimpleTM enterprise software, which provides essential management tools such as quality control, payment processing, and real-time sales reporting. Headquartered in a 50,000 square-foot operations and fulfillment center in Chattanooga, Tennessee, NuMarkets collaborates with manufacturers, retailers, and other businesses to manage, sell, and ship new, excess, and consigned inventory on a global scale. The software enhances their backend commerce services, significantly increasing the volume of products sold.

Tricycle

Series A in 2004
Tricycle, Inc. provides software tools for carpet sampling and design applications. It offers Tryk, a sampling software tool for carpet specification process; and a suite of design software for carpets and fabrics. The company serves commercial interiors manufacturers, interior designers, architects, and the carpet industry. Tricycle, Inc. was founded in 2002 and is based in Chattanooga, Tennessee. As of October 12, 2017, Tricycle, Inc. operates as a subsidiary of Shaw Industries Group, Inc.
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