Mountain Group Capital

Mountain Group Capital, LLC is a venture capital and private equity firm founded in 2002 and based in Nashville, Tennessee. The firm specializes in seed, early-stage, venture equity, buyouts, growth capital, and later-stage investments, primarily targeting the life sciences, animal health, and technology sectors. Within life sciences, it emphasizes MedTech, medical devices, diagnostics, nutraceuticals, and expedited drug development. In the animal health sector, the firm focuses on technologies that enhance companion animal health and agricultural practices. Mountain Group Capital also invests in disruptive technologies that feature innovative business models with manageable development risk and a swift path to market. The firm seeks investment opportunities in North America, particularly in the Southeastern United States and Tennessee, typically targeting companies with revenues between $1 million and $50 million. It generally prefers to acquire minority interests in venture capital investments while aiming for controlling interests in buyout transactions.

Byron Smith

Managing Director

Past deals in Tennessee

Silicon Ranch

Private Equity Round in 2023
Silicon Ranch is a developer, owner, and operator of utility-scale solar energy projects in the United States. The company builds and operates solar facilities, including installations in Social Circle, Georgia, and at Volkswagen’s Chattanooga manufacturing facility in Tennessee. It also runs a regional energy-training center that provides classroom and on-the-job training in solar installation, maintenance, and weatherization, and assists clients with project development and financing options. Silicon Ranch emphasizes long-term ownership of its projects and collaborates with utilities and a range of commercial and industrial customers to deliver cost-effective, reliable solar energy. Founded in 2010 and based in Nashville, Tennessee, the company focuses on delivering sustainable energy resources and community and economic development through its solar portfolio.

Silicon Ranch

Private Equity Round in 2022
Silicon Ranch is a developer, owner, and operator of utility-scale solar energy projects in the United States. The company builds and operates solar facilities, including installations in Social Circle, Georgia, and at Volkswagen’s Chattanooga manufacturing facility in Tennessee. It also runs a regional energy-training center that provides classroom and on-the-job training in solar installation, maintenance, and weatherization, and assists clients with project development and financing options. Silicon Ranch emphasizes long-term ownership of its projects and collaborates with utilities and a range of commercial and industrial customers to deliver cost-effective, reliable solar energy. Founded in 2010 and based in Nashville, Tennessee, the company focuses on delivering sustainable energy resources and community and economic development through its solar portfolio.

Silicon Ranch

Funding Round in 2020
Silicon Ranch is a developer, owner, and operator of utility-scale solar energy projects in the United States. The company builds and operates solar facilities, including installations in Social Circle, Georgia, and at Volkswagen’s Chattanooga manufacturing facility in Tennessee. It also runs a regional energy-training center that provides classroom and on-the-job training in solar installation, maintenance, and weatherization, and assists clients with project development and financing options. Silicon Ranch emphasizes long-term ownership of its projects and collaborates with utilities and a range of commercial and industrial customers to deliver cost-effective, reliable solar energy. Founded in 2010 and based in Nashville, Tennessee, the company focuses on delivering sustainable energy resources and community and economic development through its solar portfolio.

Restore Medical Solutions

Series A in 2015
Restore Medical Solutions, Inc., established in 2012 and based in Memphis, Tennessee, specializes in manufacturing modular sterilization tray systems for hospitals and surgery centers. Their products aim to reduce surgical site infections (SSIs), enhance safety, and improve productivity within the healthcare industry by minimizing the risk of contamination from medical instruments.

Nusirt

Series C in 2015
NuSirt Sciences, Inc. is a biotechnology company based in Nashville, Tennessee, that focuses on developing innovative products for metabolic diseases linked to over-nutrition, such as obesity and diabetes. Established in 2007, the company has created a technology platform that combines natural compounds with pharmaceutical agents to activate sirtuin pathways, aiming to prevent and treat chronic conditions associated with aging. Its flagship product, NS-0100, combines the natural compound leucine with a low dose of metformin to address type 2 diabetes, particularly for patients who experience gastrointestinal side effects from standard metformin treatment. NuSirt is currently conducting Phase 2 clinical trials to determine the optimal dosage of NS-0100. The company has filed eleven patent applications related to its technologies, with two patents already issued, and has successfully completed four clinical studies alongside various pre-clinical investigations.

InvisionHeart

Series A in 2014
InvisionHeart is a company focused on enhancing cardiac care through innovative technology. It has developed a mobile electrocardiograph system that captures vital cardiac data, allowing a network of healthcare professionals—including physicians, nurses, and technicians—to securely access and annotate patient electrocardiogram tracings. The technology was initially created by a collaborative team of physicians and engineers at Vanderbilt University, addressing practical clinical challenges faced in heart care. With a strong leadership team and a dedicated clinical advisory board, InvisionHeart aims to improve the quality of care for heart patients, ensuring that essential cardiac information is readily available to healthcare providers regardless of their location.

Nusirt

Series B in 2014
NuSirt Sciences, Inc. is a biotechnology company based in Nashville, Tennessee, that focuses on developing innovative products for metabolic diseases linked to over-nutrition, such as obesity and diabetes. Established in 2007, the company has created a technology platform that combines natural compounds with pharmaceutical agents to activate sirtuin pathways, aiming to prevent and treat chronic conditions associated with aging. Its flagship product, NS-0100, combines the natural compound leucine with a low dose of metformin to address type 2 diabetes, particularly for patients who experience gastrointestinal side effects from standard metformin treatment. NuSirt is currently conducting Phase 2 clinical trials to determine the optimal dosage of NS-0100. The company has filed eleven patent applications related to its technologies, with two patents already issued, and has successfully completed four clinical studies alongside various pre-clinical investigations.

Nusirt

Series A in 2014
NuSirt Sciences, Inc. is a biotechnology company based in Nashville, Tennessee, that focuses on developing innovative products for metabolic diseases linked to over-nutrition, such as obesity and diabetes. Established in 2007, the company has created a technology platform that combines natural compounds with pharmaceutical agents to activate sirtuin pathways, aiming to prevent and treat chronic conditions associated with aging. Its flagship product, NS-0100, combines the natural compound leucine with a low dose of metformin to address type 2 diabetes, particularly for patients who experience gastrointestinal side effects from standard metformin treatment. NuSirt is currently conducting Phase 2 clinical trials to determine the optimal dosage of NS-0100. The company has filed eleven patent applications related to its technologies, with two patents already issued, and has successfully completed four clinical studies alongside various pre-clinical investigations.

Diagnovus

Seed Round in 2013
Diagnovus, established in 2011 and located in Nashville, TN, is dedicated to advancing patient health through innovative molecular diagnostics. The company focuses on developing diagnostic tests aimed at rare forms of cancer, including pediatric cancers, to enhance the decision-making process for physicians, patients, and their families. By prioritizing evidence-based solutions, Diagnovus aims to improve treatment outcomes and facilitate more effective care. Their commitment to serving the healthcare community reflects a passion for enhancing the quality of life for patients while also promoting a more efficient allocation of healthcare resources.

Diagnovus

Seed Round in 2013
Diagnovus, established in 2011 and located in Nashville, TN, is dedicated to advancing patient health through innovative molecular diagnostics. The company focuses on developing diagnostic tests aimed at rare forms of cancer, including pediatric cancers, to enhance the decision-making process for physicians, patients, and their families. By prioritizing evidence-based solutions, Diagnovus aims to improve treatment outcomes and facilitate more effective care. Their commitment to serving the healthcare community reflects a passion for enhancing the quality of life for patients while also promoting a more efficient allocation of healthcare resources.

SwingPal

Seed Round in 2013
SwingPal, LLC is a company based in Franklin, Tennessee, that operates an innovative online platform for learning golf. Established in 2010, the platform connects golfers with instructors through web and mobile access. Users can record their swings using a smartphone and upload the videos to their SwingPal accounts. They then receive detailed feedback, including annotated video and audio analysis from golf professionals, along with additional instructional content. This service is designed to help golfers improve their skills and modify their gameplay effectively.

StreamWeaver

Series A in 2013
StreamWeaver is a software company based in Nashville, Tennessee. The company specializes in developing innovative technology solutions aimed at enhancing collaboration and productivity. Its flagship product is a multi-angle mobile video application that facilitates seamless connections between users, allowing them to record videos together and automatically generating split-screen content. Additionally, StreamWeaver offers a technology platform that integrates and streams data from popular IT tools in near real-time, utilizing event-driven automation to enhance operational efficiency. This platform enables organizations to reduce integration costs while achieving greater observability across their IT operations.

Best ABT Molecular Imaging

Venture Round in 2013
Best ABT Molecular Imaging, Inc. is a medical imaging company specializing in the design, manufacture, marketing, and servicing of biomarker generator systems and related accessories. The company offers the BG-75 Biomarker Generator, which produces unit doses of molecular imaging drugs for positron emission tomography (PET) at the point of use, ensuring immediate availability and quality through comprehensive control tests for each dose generated. Founded by Ron and Lynda Nutt in 2006, Best ABT leverages its expertise in molecular imaging, which has roots dating back to the early 1980s. The company's innovative technology includes a self-shielded mini-cyclotron for producing the positron-emitting F-18 isotope and a microchemistry system for labeling specific molecules. Headquartered in Louisville, Tennessee, Best ABT distributes its products globally through a network of sales and service distributors, facilitating the expansion of PET imaging capabilities worldwide.

Diagnovus

Seed Round in 2013
Diagnovus, established in 2011 and located in Nashville, TN, is dedicated to advancing patient health through innovative molecular diagnostics. The company focuses on developing diagnostic tests aimed at rare forms of cancer, including pediatric cancers, to enhance the decision-making process for physicians, patients, and their families. By prioritizing evidence-based solutions, Diagnovus aims to improve treatment outcomes and facilitate more effective care. Their commitment to serving the healthcare community reflects a passion for enhancing the quality of life for patients while also promoting a more efficient allocation of healthcare resources.

Pathfinder Technologies

Venture Round in 2013
Pathfinder Technologies (formerly Pathfinder Therapeutics, Inc.), a medical device company, engages in the design, development, and manufacture of solutions in the field of navigated abdominal surgery. The company provides an integrated intra-operative image guidance system for open liver surgical procedure; and accessories, including IRED localization probes, navigated RF ablators, and navigated ultrasonic aspirators. Its system consists of a software architecture that allows the surgeon to display a 3D view of the liver. Its system is used in various open liver surgery applications, including hepatic resection, open ablation, open biopsy, living donor transplant, cyst removal, and tumor removal. Pathfinder Technologies was founded in 2004 and is based in Nashville, Tennessee.

SwingPal

Seed Round in 2013
SwingPal, LLC is a company based in Franklin, Tennessee, that operates an innovative online platform for learning golf. Established in 2010, the platform connects golfers with instructors through web and mobile access. Users can record their swings using a smartphone and upload the videos to their SwingPal accounts. They then receive detailed feedback, including annotated video and audio analysis from golf professionals, along with additional instructional content. This service is designed to help golfers improve their skills and modify their gameplay effectively.

Pathfinder Technologies

Seed Round in 2013
Pathfinder Technologies (formerly Pathfinder Therapeutics, Inc.), a medical device company, engages in the design, development, and manufacture of solutions in the field of navigated abdominal surgery. The company provides an integrated intra-operative image guidance system for open liver surgical procedure; and accessories, including IRED localization probes, navigated RF ablators, and navigated ultrasonic aspirators. Its system consists of a software architecture that allows the surgeon to display a 3D view of the liver. Its system is used in various open liver surgery applications, including hepatic resection, open ablation, open biopsy, living donor transplant, cyst removal, and tumor removal. Pathfinder Technologies was founded in 2004 and is based in Nashville, Tennessee.

American Hometown Media

Seed Round in 2013
American Hometown Media, Inc. is a digital media company based in Nashville, Tennessee, specializing in the publishing of content that highlights American home cooks. Founded in 2011, the company operates an internet platform that syndicates editorial content to community newspapers, magazines, and other media outlets across the country. It focuses on celebrating the culinary contributions of everyday individuals, positioning them as the central figures in its offerings. One of its key features is Just A Pinch Recipes, a digital recipe and coupon social network aimed at home cooks. Additionally, American Hometown Media provides Just A Pinch Syndicated Media, which delivers content related to recipes and the cultural heritage of America's hometowns. By leveraging traditional publishing roots while embracing digital technology, the company effectively connects with a broad audience, reaching around two million households weekly through its syndicated columns.

Diagnovus

Seed Round in 2013
Diagnovus, established in 2011 and located in Nashville, TN, is dedicated to advancing patient health through innovative molecular diagnostics. The company focuses on developing diagnostic tests aimed at rare forms of cancer, including pediatric cancers, to enhance the decision-making process for physicians, patients, and their families. By prioritizing evidence-based solutions, Diagnovus aims to improve treatment outcomes and facilitate more effective care. Their commitment to serving the healthcare community reflects a passion for enhancing the quality of life for patients while also promoting a more efficient allocation of healthcare resources.

StreamWeaver

Series A in 2013
StreamWeaver is a software company based in Nashville, Tennessee. The company specializes in developing innovative technology solutions aimed at enhancing collaboration and productivity. Its flagship product is a multi-angle mobile video application that facilitates seamless connections between users, allowing them to record videos together and automatically generating split-screen content. Additionally, StreamWeaver offers a technology platform that integrates and streams data from popular IT tools in near real-time, utilizing event-driven automation to enhance operational efficiency. This platform enables organizations to reduce integration costs while achieving greater observability across their IT operations.

Best ABT Molecular Imaging

Series C in 2012
Best ABT Molecular Imaging, Inc. is a medical imaging company specializing in the design, manufacture, marketing, and servicing of biomarker generator systems and related accessories. The company offers the BG-75 Biomarker Generator, which produces unit doses of molecular imaging drugs for positron emission tomography (PET) at the point of use, ensuring immediate availability and quality through comprehensive control tests for each dose generated. Founded by Ron and Lynda Nutt in 2006, Best ABT leverages its expertise in molecular imaging, which has roots dating back to the early 1980s. The company's innovative technology includes a self-shielded mini-cyclotron for producing the positron-emitting F-18 isotope and a microchemistry system for labeling specific molecules. Headquartered in Louisville, Tennessee, Best ABT distributes its products globally through a network of sales and service distributors, facilitating the expansion of PET imaging capabilities worldwide.

StreamWeaver

Seed Round in 2012
StreamWeaver is a software company based in Nashville, Tennessee. The company specializes in developing innovative technology solutions aimed at enhancing collaboration and productivity. Its flagship product is a multi-angle mobile video application that facilitates seamless connections between users, allowing them to record videos together and automatically generating split-screen content. Additionally, StreamWeaver offers a technology platform that integrates and streams data from popular IT tools in near real-time, utilizing event-driven automation to enhance operational efficiency. This platform enables organizations to reduce integration costs while achieving greater observability across their IT operations.

Diagnovus

Seed Round in 2012
Diagnovus, established in 2011 and located in Nashville, TN, is dedicated to advancing patient health through innovative molecular diagnostics. The company focuses on developing diagnostic tests aimed at rare forms of cancer, including pediatric cancers, to enhance the decision-making process for physicians, patients, and their families. By prioritizing evidence-based solutions, Diagnovus aims to improve treatment outcomes and facilitate more effective care. Their commitment to serving the healthcare community reflects a passion for enhancing the quality of life for patients while also promoting a more efficient allocation of healthcare resources.

Nusirt

Seed Round in 2012
NuSirt Sciences, Inc. is a biotechnology company based in Nashville, Tennessee, that focuses on developing innovative products for metabolic diseases linked to over-nutrition, such as obesity and diabetes. Established in 2007, the company has created a technology platform that combines natural compounds with pharmaceutical agents to activate sirtuin pathways, aiming to prevent and treat chronic conditions associated with aging. Its flagship product, NS-0100, combines the natural compound leucine with a low dose of metformin to address type 2 diabetes, particularly for patients who experience gastrointestinal side effects from standard metformin treatment. NuSirt is currently conducting Phase 2 clinical trials to determine the optimal dosage of NS-0100. The company has filed eleven patent applications related to its technologies, with two patents already issued, and has successfully completed four clinical studies alongside various pre-clinical investigations.

Pathfinder Technologies

Venture Round in 2012
Pathfinder Technologies (formerly Pathfinder Therapeutics, Inc.), a medical device company, engages in the design, development, and manufacture of solutions in the field of navigated abdominal surgery. The company provides an integrated intra-operative image guidance system for open liver surgical procedure; and accessories, including IRED localization probes, navigated RF ablators, and navigated ultrasonic aspirators. Its system consists of a software architecture that allows the surgeon to display a 3D view of the liver. Its system is used in various open liver surgery applications, including hepatic resection, open ablation, open biopsy, living donor transplant, cyst removal, and tumor removal. Pathfinder Technologies was founded in 2004 and is based in Nashville, Tennessee.

SwingPal

Seed Round in 2012
SwingPal, LLC is a company based in Franklin, Tennessee, that operates an innovative online platform for learning golf. Established in 2010, the platform connects golfers with instructors through web and mobile access. Users can record their swings using a smartphone and upload the videos to their SwingPal accounts. They then receive detailed feedback, including annotated video and audio analysis from golf professionals, along with additional instructional content. This service is designed to help golfers improve their skills and modify their gameplay effectively.

Pathfinder Technologies

Seed Round in 2012
Pathfinder Technologies (formerly Pathfinder Therapeutics, Inc.), a medical device company, engages in the design, development, and manufacture of solutions in the field of navigated abdominal surgery. The company provides an integrated intra-operative image guidance system for open liver surgical procedure; and accessories, including IRED localization probes, navigated RF ablators, and navigated ultrasonic aspirators. Its system consists of a software architecture that allows the surgeon to display a 3D view of the liver. Its system is used in various open liver surgery applications, including hepatic resection, open ablation, open biopsy, living donor transplant, cyst removal, and tumor removal. Pathfinder Technologies was founded in 2004 and is based in Nashville, Tennessee.

Industrial Ceramic Solutions

Seed Round in 2011
Industrial Ceramic Solutions, LLC is a manufacturer specializing in air pollution control equipment, particularly for industrial and diesel exhaust filter applications. Founded in 1997 and based in Oak Ridge, Tennessee, the company offers a range of products including diesel particulate filters, high-temperature exhaust filters, and devices for air, gas, odor, and smoke control. The founder, Richard Nixdorf, has over 40 years of experience in materials development, particularly in ceramics, metals, and polymers. His work led to innovations such as a silicon carbide fiber that can rapidly convert microwave energy to thermal energy, initially aimed at addressing regulatory requirements for diesel engine particulate filters. Although early attempts to utilize microwave energy for filter regeneration faced challenges, the company's products gained significant interest from major automotive suppliers. In 2007, a Fortune 100 company secured an exclusive license to manufacture the diesel particulate filter developed by ICS, although this agreement concluded in 2008 due to market conditions. Today, Industrial Ceramic Solutions continues to focus on advanced filtration technologies to meet evolving industrial needs.

Diagnovus

Seed Round in 2011
Diagnovus, established in 2011 and located in Nashville, TN, is dedicated to advancing patient health through innovative molecular diagnostics. The company focuses on developing diagnostic tests aimed at rare forms of cancer, including pediatric cancers, to enhance the decision-making process for physicians, patients, and their families. By prioritizing evidence-based solutions, Diagnovus aims to improve treatment outcomes and facilitate more effective care. Their commitment to serving the healthcare community reflects a passion for enhancing the quality of life for patients while also promoting a more efficient allocation of healthcare resources.
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