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Battle Born Venture is Nevada's state venture capital program, established in 2013 and operational since 2014. Funded through the State Small Business Credit Initiative (SSBCI), the program aims to assist local entrepreneurs in accessing venture capital, thereby reducing the necessity for relocation to other startup hubs for funding. The organization has celebrated five exits since its inception, showcasing its effectiveness in supporting high-potential startups based in Nevada.
As of now, Battle Born Venture has invested in a diverse portfolio of 50 companies across various sectors, including consumer, healthcare, fintech, and agtech. The program operates under the administration of Nevada's Governor's Office of Economic Development (GOED) and emphasizes co-investing with professional investors. This collaborative approach enhances the funding landscape for Nevada-based startups.
Battle Born Venture invests in startups that demonstrate recurring revenue and possess a valid Nevada business license. The organization participates in funding rounds ranging from $200,000 to $20 million, with a maximum investment of $1 million per company over time. In initial funding rounds, the cap is set at $500,000. The firm employs equity and equity-like deal structures, such as convertible notes and SAFEs, and does not lead funding rounds but rather co-invests alongside professional investors.
While the organization is sector agnostic, it excludes certain industries from its investment strategy, including gambling, alcohol, cannabis, firearms, real estate, investment firms, and lenders. Exceptions may apply for startups affiliated with Nevada's research universities or those holding active SBIR/STTR contracts. This focused investment strategy aims to bolster the local entrepreneurial ecosystem while ensuring compliance with state regulations.
Battle Born Venture's portfolio includes notable companies such as:
Additional portfolio companies include BrakeSens, BuildQ, Carewear, CIQ, CircleIn, Click Bio, clothesline, Coco Coders, Create Good Foods, Cuts Clothing, Daya Medical, dog_whistle, Drain Drawer, Ecoatoms, Elly Health, Fandeavor, Fanup, Grantcycle, Grrrl, Heligenics, HiBear, Know Risk, Let's Rolo, Longshot Technologies, Lucihub, Melzi, Nailstry DBA Neuroreserve, Nivati, Onboarded, Otsy, phone2, Prosper Technologies, Quantum Copper, Sarcomatrix, See ID, Semi Exact, Surgistream, Taber Innovations, Talage Insurance, TensorWave, Terbine, Tilt A.I., TransWorldHealth, Ultion, Vena Solutions, Vena VItals, Vision Aid, wavr, Wedgies, Wise Banyan, and Zencentiv.
To pitch to Battle Born Venture, startups should use the contact form available on their website. It is important to include a comprehensive deck that outlines the business model, market analysis, and financial projections. The firm typically responds within a reasonable timeframe, but founders should be prepared for potential delays due to the volume of inquiries.
Warm introductions are preferred, especially from professional investors or industry contacts. This can enhance the chances of securing a meeting and receiving feedback on the pitch.
As of March 2023, Battle Born Venture has actively invested in high-potential startups based in Nevada since its inception in 2014. The organization has celebrated five exits, demonstrating its effectiveness in supporting local entrepreneurs. Recent co-investments include partnerships with gener8tor and StartUpNV, indicating ongoing engagement in the local startup ecosystem.
In 2022, Battle Born Venture announced additional investments into several Nevada startups, further solidifying its commitment to fostering local entrepreneurship. The firm continues to seek opportunities to support innovative companies across various sectors, including consumer, healthcare, fintech, and agtech.
What are Battle Born Venture's investment criteria?
Battle Born Venture invests in startups that have a recurring revenue model and are registered with a Nevada business license. Companies must be structured as C-corporations or S-corporations, and they must co-invest with a professional investor.
How can startups apply or pitch to Battle Born Venture?
Startups can submit their business plans and funding requests through the contact form available on the Battle Born Venture website. It is advisable to include detailed information about the business model, market potential, and financial projections.
What makes Battle Born Venture different from other investors?
This venture capital program is state-sponsored, specifically designed to support local entrepreneurs in Nevada. It focuses on co-investing with professional investors, which enhances the funding opportunities for startups in the region.
What is the typical check size for investments?
Battle Born Venture participates in funding rounds ranging from $200,000 to $20 million, with a maximum investment of $1 million per company over time. The first round investment is capped at $500,000.
What sectors does Battle Born Venture focus on?
The firm invests in various sectors, including consumer, healthcare, fintech, and agtech, while excluding industries such as gambling, alcohol, cannabis, firearms, real estate, investment firms, and lenders.
What kind of post-investment involvement does Battle Born Venture have?
Battle Born Venture provides access to local venture capital and facilitates connections with professional investors, supporting entrepreneurs in their fundraising efforts and growth strategies.
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