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Alerion Ventures is an evergreen venture capital firm founded in 2014 and headquartered in Charleston, South Carolina. The firm focuses on early-stage investments in scalable startups, primarily partnering with entrepreneurs in the Southeast region of the United States. The evergreen structure allows Alerion to recycle capital from exits into new investments, avoiding the constraints of traditional fund lifecycles.
As of now, Alerion Ventures has made a total of 36 investments, with an active portfolio of approximately 29 companies. The firm typically targets 2-6 deals per year, aiming for one new investment each quarter. Alerion Ventures has achieved notable exits, including companies like Biospatial and MemberSuite, which highlight its successful investment strategy.
With a total team of three, including Managing Partner Lee Richards, Alerion Ventures is well-positioned to leverage its expertise in the Southeast startup ecosystem. The firm’s focus on capital-efficient companies aligns with its investment thesis, which emphasizes B2B software and technology-enabled services.
Alerion Ventures targets investments in capital-efficient companies across various industries, with a strong preference for business-to-business (B2B) software and technology-enabled services. The firm is particularly interested in healthcare software and services, as well as energy-efficient technologies. Alerion Ventures does not consider consumer-facing companies, drug discovery, medical devices, energy production, or project finance opportunities.
The firm typically invests in companies that have achieved initial market and revenue traction, following proof-of-concept and functional product development. Alerion Ventures is open to opportunistic investments in growth-stage businesses that demonstrate potential for near-term exits. The typical check size ranges from $1 million to $5 million, with initial investments generally falling between $2 million and $4 million.
Geographically, Alerion Ventures primarily focuses on the Southeast U.S. but remains open to opportunities outside this region. The firm prefers to collaborate with other experienced venture investors, enhancing its investment strategy through co-investment.
Alerion Ventures has a diverse portfolio of companies, with notable investments including:
In addition to these notable exits, Alerion Ventures has invested in companies such as Pixlmob, SiteLabs, WAVS Custom, Ruffian Software, New Forge, VirtueRN, ScopeStack, and Mainstage Gaming Network. The firm has a total of 36 investments, with a focus on capital-efficient B2B startups.
Lee Richards - Managing Partner. Lee has extensive experience in venture capital and has led numerous successful investments in the B2B software sector. He holds a degree from a notable university and has a strong track record in identifying scalable startups.
Wiley Becker - Partner. Wiley brings expertise in technology-enabled services and has been involved in various successful ventures within the healthcare software space. His background includes significant roles in both startups and established firms.
Adam Bush - Controller. Adam manages the financial operations of Alerion Ventures, ensuring efficient fund management and compliance. He has a background in finance and investment management.
Submit your pitch through their website form at [URL]. Alerion Ventures prefers to review decks that align with their investment focus on capital-efficient B2B software and technology-enabled services.
In January 2023, Alerion Ventures participated in a recap round for Adwerx, demonstrating its ongoing commitment to supporting portfolio companies. The firm continues to maintain an active investment cadence, targeting 2-6 deals per year.
On January 13, 2026, Alerion Ventures achieved a notable exit with Demand Driven Technologies, marking its most recent confirmed exit. This exit further underscores the firm's successful investment strategy and ability to identify high-potential startups.
What are Alerion Ventures' investment criteria?
Alerion Ventures focuses on capital-efficient B2B software and technology-enabled services. The firm prefers companies that have achieved initial market and revenue traction and typically invests in the pre-seed to growth equity stages.
How can I apply or pitch to Alerion Ventures?
Founders can reach out through the contact form on Alerion Ventures' website. A well-prepared pitch deck that outlines the business model, market opportunity, and traction is recommended.
What makes Alerion Ventures different from other firms?
Alerion Ventures operates as an evergreen fund, allowing for continuous investment without the constraints of a fixed fund lifecycle. This structure enables the firm to reinvest capital from successful exits into new opportunities.
What is the geographic scope of Alerion Ventures?
The firm primarily focuses on the Southeast U.S. but is open to investments outside this region. Alerion Ventures collaborates with other experienced venture investors to enhance its investment strategy.
What is the typical check size for investments?
Alerion Ventures typically invests between $1 million and $5 million, with initial checks ranging from $2 million to $4 million.
What is Alerion Ventures' post-investment involvement?
The firm actively supports its portfolio companies through mentorship, operational guidance, and strategic advice, leveraging its network to help startups grow.
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