InCrowd Capital Announces Expansion Into Alabama!
Our vision in launching InCrowd close to three years ago was to enable early-stage companies to access much needed, but highly limited, capital sources in the Southeast. This access to capital is imperative to supporting the burgeoning entrepreneurial ecosystems across the South. In order to realize our vision, we launched the InCrowd Capital angel group concept in Nashville, TN, with the goal of expanding our growth into other Southern states with growing entrepreneurship scenes.
To accomplish our goals for growth, we spent close to three years perfecting our model in Nashville, enabling us to expand our model into other regions. During that time, we have built a platform that takes the intimidation out of angel investing, leading Nashville in attracting over 120 new angels into the early-stage investing space. InCrowd alone has on-boarded over 40 new angels, who collectively have invested over $1 million across seven Tennessee-based companies since 2014, making it the most prolific seed-stage angel group in Tennessee.
With the proven model and strong investments in companies like Everly, Initial State Technologies, Remix Hits and Solar Site Design, among others, InCrowd is now dedicated to furthering our mission outside of Nashville. Over the past year, we have been working closely with our partners in Alabama, and through our community outreach, we saw a huge gap in funding for highly skilled entrepreneurs with promising early-stage ventures in Alabama. As part of our mission to increase access to capital, we saw a need and an opportunity to provide that capital to the growing network of entrepreneurial resources in Alabama, which will be our first affiliate outside of the state of Tennessee.
Our base of operations will be out of Huntsville, AL, due to the access to entrepreneurial talent through programs such as RocketHatch, BizTech, Hudson Alpha and the local university scene, as well as its close proximity to Nashville and Birmingham, another entrepreneurial hotbed within Alabama. While based in Huntsville, InCrowd Alabama, as the new entity will be called, will focus on investment opportunities all across the state of Alabama.
What does this mean for our current Tennessee-based members? Members of InCrowd’s groups in Tennessee will also have access to any deal funded locally in Alabama, increasing the collective capital available for entrepreneurs working with the InCrowd network. While there will be an option for Tennessee-based members to see every deal that is presented in Alabama, but in order to avoid overwhelming members with too many deals, only the companies funded locally in Alabama will “earn” the right to present to our Nashville chapter. The same situation applies for Alabama members who will have access to any deals funded locally by a Tennessee-based InCrowd affiliate.
In Alabama, entrepreneur, consultant and startup mentor Eric Grigorian will be running the local affiliate as the Founder of InCrowd Alabama. An engineer by training, Eric has over 30 years of experience in design, development, integration, technical management, and operations in aerospace, defense and commercial industries. In addition, Eric has worked in various capacities with several startups in Alabama, including Applied Data Trends, Mole Town, Q-PC, and Arkitrol.
In addition to Eric, RocketHatch founder and serial entrepreneur Antonio Montoya will serve as a local advisor. Antonio started his first business in college with his computer science professor developing software. His second venture, a GIS consulting practice took him to the Caribbean and Central and South America, and in 2000 he moved to Miami where he joined the dot com boom and sold high tech solutions in Latin America.
Antonio relocated to Huntsville in 2003 to join the global product management team at Intergraph (now part of Hexagon) and later established and grew the local office for one of the leading geospatial services firms in North America where he was also head of marketing and demand generation programs.
With all of the growth we are seeing in the entrepreneurial communities across Alabama, and in finding such accomplished affiliate partners in Eric and Antonio, InCrowd is thrilled to finally be part of a state that is incubating some of the brightest new entrepreneurs in the country.
We welcome others to follow in our footsteps and continue our mission of increasing access to capital for companies in Alabama and throughout the South. With access to capital, Alabama can continue to attract and keep entrepreneurs, and we are proud to be a part of helping the South become known as one of the top regions in the country to start and grow a company.
InCrowd Capital is an angel investment group that invests in companies going through incubator, accelerator and university programs across the Southeast. Subscribe to our newsletter to be the first to receive the latest information and news on InCrowd and angel investing in the South.