NC Venture Capital Program
NCInvest, supporting early-stage, high-growth small business in NC
The Rural Center's NC Venture Capital Program, branded as NCInvest, supports early-stage, high-growth small businesses in North Carolina, primarily through equity investments. North Carolina has dedicated approximately $30 million to this program. The program unveiled the first cohort of 10 venture capital firms in March 2024 during an announcement attended by Vice President Kamala Harris.
These 10 funds will bring additional financing to our effort and are expected to invest a total of more than $90 million in North Carolina startups in the coming years. You can view the full list below.
This program’s goal is to invest at least 54 percent of the funds in small businesses, founders, or fund managers who qualify under the guidelines for socially and economically disadvantaged individuals as defined by the Department of Treasury. These may include rural people, people of color, women, veterans and people who live in disadvantaged communities.
Questions regarding this program should be directed to ncinvest@ncruralcenter.org.
NC Venture Capital Program Partners
Our state’s entrepreneurs need access to equity that goes beyond public dollars alone. NCInvest is a venture capital program designed to promote small-business investing with investors who are integrated into the larger realm of economic development activity. These investors and entrepreneurial ecosystems are vital to sustaining communities and the state.
Available for North Carolina startups: $3 million
100KM Ventures, based in Washington D.C., is an early-stage venture capital firm investing in diverse management teams building the next generation of great technology companies that are addressing the untapped customer segments in the Future of Work and Women’s Health.
Available for North Carolina startups: $3 million
Symphonic Capital is an early-stage fund that invests in companies closing access gaps in health and wealth launched by Sydney Thomas, who has spent almost a decade building and investing venture capital funds. She is joined by Shruti Shah, a YC alum and former co-founder. The collective power of this team makes it the most qualified first-time fund in the market today.
Available for North Carolina startups: $3 million
Resilient Ventures is an early-stage, committed capital fund supporting African American founders. We are joining the historic movement to disrupt systemic economic injustice by expanding access to capital, networks, and opportunities. Our mission is to close the wealth gap by expanding access to capital, networks, and opportunities to African American founders.
Available for North Carolina startups: $5 million
Founded by a Black woman with 30+ years on Wall Street and in technology, Wocstar Capital is a venture firm that is driving the creation of wealth in communities of color and amongst founders, investors, and allies by sharing the stories of, investing in, and championing/training women of color entrepreneurs and diverse tech teams. Wocstar actively invests meaningful capital into companies and technologies that are redefining how we will consume content and resources, transact commerce, and create a sustainable world. Support for the global startup community includes the Wocstar Academy, which delivers training and technical assistance related to “How to Raise Capital” and “How to Tell Your Story” and Wocstar Media, which empowers artists, entrepreneurial creatives, and creators to usher in a new era of storytelling, media, entertainment, film/tv, Broadway plays and gaming.
Available for North Carolina startups: $7.5 million
Nex Cubed is a pre-seed venture accelerator on a mission to invest in and uplift underrepresented founders and underserved communities by providing early-stage capital, resources, community, and hands-on support based on the founder’s priorities. Nex Cubed’s HBCU Founders Fund seeks to foster and invest in startups where at least one founder is an HBCU student, graduate, or faculty member. Since 2017, Nex Cubed has invested in 90+ portfolio companies, accelerated 225+ startups, and developed a global ecosystem of 20+ corporate partners, 100+ investment partners, 80+ strategic advisors, and over 140 mentors.
Available for North Carolina startups: $15 million
RevTech Labs is a majority female and Latina-owned entrepreneurship center and accelerator that will prioritize supporting and elevating traditionally underrepresented founders in financial, health, and insurance technologies. RevTech provides significant support as an accelerator, with 350 mentors and subject-matter experts, over 60 corporate partners, and over 400 venture firm partners available to support success. RevTechLabs Capital will invest in over 200 early-stage companies.
Available for North Carolina startups: $15 million
Note: With SSBCI investment, IDEA Fund Partners will invest a minimum of $15 million in N.C. startups.
IDEA Fund Partners (IFP) is one of the most experienced early-stage venture capital firms in the Southeast. They invest in exceptional founders working on innovative startups that are aggressively disrupting markets. As a generalist technology-focused investor, IFP supports companies from pre-seed to series A, with a geographical focus from Baltimore to Atlanta with a particular interest in North Carolina. IFP targets 50 percent of its funding for companies with underrepresented founders.
Available for North Carolina startups: $16,193,040
LeVert Ventures is an early-stage agricultural technology (AgTech) venture capital fund nourishing innovation for a more sustainable future. The intersection of systemic pressure and technology is playing a major role in redefining the future of agriculture and food. Driven by shifts in eating habits, dwindling natural resources, urbanization, and climate change, the food and agriculture industries face significant challenges that are creating substantial investment opportunities in meeting the sustenance needs of future generations. LeVert Ventures will invest in next-generation technologies that have the potential to transform the AgTech industry.
Available for North Carolina startups: $18 million
Latimer Ventures is a Baltimore-based early-stage venture capital fund helping enterprise founders build great companies and Fortune 1000 Companies make diverse acquisitions.
NC Venture Capital Launch
NCInvest, an initiative of the NC Rural Center, launched in February 2022 with an online and in-person event. During that event, program organizers, leaders and the investment community discussed this opportunity for founders, small businesses and investors.
If you were not able to join us at the launch event, please watch our highlight video.
For Founders: NC Venture Capital Program Details
NCInvest invests directly in businesses. Founders or small business owners interested in learning more about our venture partners handling direct investments should fill out this interest form. The information from interested founders will be shared with our venture partners.
The Venture Program Solution
NCInvest is designed to create equity investment opportunities for startups throughout the state. By working with fund managers to infuse this capital into the marketplace, we create more jobs and enhance economic development opportunities in the communities where they operate.
