On 12/14/2021, The initial announcement for the Tweener Fund went out and we were fortunate to get great coverage from all the local Triangle business publications both online and off-line. Here’s a roundup:
- WRAL Techwire – Highlight quote->
“We’re living in one of the most underrated regions for startups in the country,” said Alex Lassiter, co-founder of Gather, founder of Green Places to Work, and an investor in Kevel, among other investments.
Lassiter is among the limited partners who will participate in Wingo’s Triangle Tweener Fund, which according to Wingo, could be ready to make its first investment in a “Tweener” as early as January 2022.
“This model allows the region’s entrepreneurs and investors to subscribe to the growth of the area’s excellent startup companies,” said Lassiter. “Startup ecosystems flourish in open, startup-friendly markets where founders and investors work together to reinvest their time and money locally.”
- News and Observer: (paywall)->
“Sometimes when people climb the ladder and have success, they take the ladder with them,” Wingo said. “This is about creating more ladders and realizing that it is not a zero sum game in the Triangle.”
- Triangle Business Journal (Aka the TBJ)-> (This is in their ungated ‘TriangleInno’ sub-pub
“We continue to see local companies do extremely well and have healthy exits, but the vast majority of the venture returns accrue to firms outside of our area,” Avery said. “I believe the Tweener Fund will help keep more of the returns from our companies local, putting that money back in the pocket of fellow CEOs and others in the community. This creates a virtuous cycle that then creates more capital to invest in new companies. We need more local investors that want to invest in local companies, so a fund targeted at that is huge for the area.” – James Avery
“I feel that it is important for the operators, independently of the VCs and service providers, to show their support,” he said. “The financial commitment is important primarily for its signaling value. My hope is that everyone from the area that has successfully built and sold a company will join and that those coming to the area will see the fund as a means to get involved.” – Michael Doeernberg
“I think the Triangle is about to have explosive growth in technology startups and I wanted to specifically back a serial entrepreneur like Scot Wingo, who’s had experience from startup to IPO and has deep roots in the Triangle ecosystem as I think the Tweener Fund will outperform most early early stage tech funds as the Triangle continues to accelerate,” he said. “In addition, for the Triangle to become one of the global leaders in the technology industry, we have to lead by example and successful entrepreneurs should back other fellow entrepreneurs. This was one of the lessons I learned from building and funding startups in Silicon Valley and I’m very excited to join local entrepreneurs and investors in backing the next generation of innovators here in the Triangle.” – Ryan Bethencourt
“The easiest comparison to someplace like my friends at Bull City Venture Partners is that they’re like a mutual fund,” Scot says. “They’re like a Fidelity, trying to pick winners. They’ll make maybe 14-15 investments over a 5-10 year fund. The Tweener Fund is more like an index fund. We’ll make lots of smaller investments on a more programmatic basis.”
The Tweener fund socials are here->