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Quatris Fund, established in 2000, operates under the Smaby Group, Inc., which has roots dating back to 1986. Based in the St. Paul, Minnesota area, Quatris Fund specializes in providing market intelligence and strategic advisory services to high-growth technology companies. The fund has a rich history of supporting early-stage ventures, particularly in the information technology sector, and has documented a total of 13 investments.
Initially formed as a seed-stage venture capital fund, Quatris Fund I was created by blending the financial assets of St. Paul Fire and Marine Insurance Company with the entrepreneurial talent of four former CEOs. Gary Smaby served as the sole managing partner until 2013, when the decision was made not to raise a follow-on fund. Although Fund I is now closed and fully distributed, the Smaby Group continues to engage in advisory and investment activities under the Quatris brand.
Quatris Fund targets high-growth technology companies, with a specific emphasis on early-stage ventures in the information technology systems and software sectors. The fund's investment strategy includes a hands-on approach to creating, seeding, and mentoring startups. Quatris Fund provides a range of services, including company formation, business model definition, corporate positioning, strategic planning, valuations, and fundraising. This comprehensive support is designed to assist both startups and corporate intrapreneurs in navigating market opportunities and internal challenges.
The sectors of focus for Quatris Fund include fintech and healthcare, reflecting a commitment to investing in industries with significant growth potential. The fund's investment check sizes are tailored to early-stage companies, although specific amounts are not disclosed. Quatris Fund seeks to partner with founders who demonstrate strong leadership capabilities and a clear vision for their ventures, ensuring alignment with the fund's strategic objectives.
Quatris Fund has invested in a diverse range of companies, totaling 13 documented investments. Notable portfolio companies include:
These investments reflect Quatris Fund's commitment to supporting innovative companies in the fintech and healthcare sectors, leveraging their expertise to foster growth and development.
Gary Smaby — Managing Partner and Board Chair. Gary co-founded Quatris Fund and has extensive experience in venture capital and strategic advisory services. He has led numerous investments in technology companies and is known for his hands-on mentorship style. Gary's background includes a strong focus on early-stage ventures, particularly in the IT sector.
To pitch to Quatris Fund, startups should utilize the contact form available on their website at quatrisfund.com. It is essential to include a comprehensive pitch deck that outlines the business model, market opportunity, and financial projections. Founders should expect a response time of several weeks, as the fund evaluates pitches thoroughly.
Warm introductions are preferred, as they can facilitate a more favorable review process. Startups are encouraged to connect with existing portfolio companies or industry contacts to enhance their chances of securing a meeting with the fund.
As of now, Quatris Fund has not published any recent updates or blog posts, indicating a lack of current public activity. The organization appears to be inactive as a venture capital fund, with its initial fund now closed and fully distributed. However, the most recent investment was made in July 2025 in Reprise Biomedical, suggesting continued individual activity by Gary Smaby and the Smaby Group under the Quatris brand.
What are Quatris Fund's investment criteria?
Quatris Fund focuses on high-growth technology companies, particularly in the fintech and healthcare sectors. They seek early-stage ventures that demonstrate strong leadership and a clear business model.
How can startups apply or pitch to Quatris Fund?
Startups can pitch to Quatris Fund through their website at quatrisfund.com. It is advisable to include a detailed business plan and financial projections in the pitch deck.
What makes Quatris Fund different from other venture capital firms?
Quatris Fund combines investment with strategic advisory services, providing hands-on mentorship and support to portfolio companies. This dual approach helps startups navigate challenges effectively.
What is the geographic scope of Quatris Fund's investments?
Quatris Fund operates globally, focusing on technology companies regardless of their location, as long as they align with the fund's investment thesis.
What is the fund size and check size for investments?
Quatris Fund I is now closed and fully distributed, and specific check sizes are not disclosed. However, the fund primarily targets early-stage investments.
What kind of post-investment involvement does Quatris Fund have?
Gary Smaby serves as board chair for portfolio companies, ensuring they receive tailored guidance and support throughout their growth journey.
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