FundNV

FundNV is a venture capital firm established in 2019, with its operations based in Reno, Nevada. The firm focuses on early-stage pre-seed investments, primarily targeting companies that are members of the StartUpNV incubator and have demonstrated progress toward specific growth objectives over a minimum period of 180 days. FundNV typically makes 8 to 10 investments each year, providing funding in $50,000 tranches, with the potential for additional syndicated amounts up to $150,000. The firm employs non-negotiable standard terms, utilizing series seed term sheets and convertible notes that feature a 10% interest rate, a 20% discount for priced rounds, and caps of $2 million or less. FundNV aims to support and foster the growth of innovative early-stage companies within the United States, particularly in Nevada.

Ray Hurst

Principal

5 past transactions

Terbine

Seed Round in 2021
Terbine is an early-stage startup focused on creating a marketplace for physical-world sensor data. The company aims to connect data buyers and sellers, allowing sellers to monetize their information while providing actionable data to buyers. Terbine's platform is designed to serve large enterprises and government organizations through white-label solutions, positioning itself as a central hub in the emerging Internet of Things (IoT) data marketplace. The team comprises experts from diverse fields, including aerospace, agriculture, energy, and digital design, which enhances their capability to address complex data challenges. By facilitating a seamless exchange of data generated by various devices and systems, Terbine aims to make this information not only accessible but also financially valuable for its users across multiple sectors.

Hibear

Seed Round in 2021
Hibear Design Co is an outdoor and travel gear brand that develops the All-Day Adventure Flask. It is an insulated flask that is sustainable, easy to clean, rugged, and versatile enough to make any beverages. The company was founded in 2017 and based in Reno, Nevada.

AngelNV

Seed Round in 2021
Founded in 2020, AngelNV is an angel group based in Las Vegas, Nevada. The firm prefers to invest in the Nevada region-based startup.

Nevaka

Pre Seed Round in 2020
Nevaka is a materials management application tailored for electrical contractors, developed specifically to enhance the workflow of electricians. The platform enables field workers to create, share, and edit material lists and purchase orders, allowing for real-time submission to their office or vendors. It integrates seamlessly with corporate ERP and CPM systems, facilitating efficient material management from project initiation to completion. With a specialized database that features over 5 million electrical products across 900 brands, Nevaka also has the potential to expand its services to other construction trades, including mechanical, plumbing, and HVAC. This expansion would position Nevaka to serve a significant portion of the construction industry in the United States.
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