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meritusventures.com

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Investments

11

Portfolio Exits

4

Funds

1

About Meritus Ventures

Meritus Ventures, L.P. (Meritus) is a $36.4 million venture capital fund formed to make equity investments in private, expansion-stage companies in predominantly rural areas in central and southern Appalachia. In addition, Meritus can provide operational assistance to portfolio companies and prospective portfolio companies. The Fund makes investments in small companies in Tennessee, Kentucky, Arkansas, and the Appalachian counties of Ohio, West Virginia, Virginia, North Carolina, South Carolina, Georgia, Alabama, and Mississippi.

Meritus Ventures Headquarters Location

1020 Commerce Park Drive

Oak Ridge, Tennessee, 37830,

United States

606.864.5175

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Latest Meritus Ventures News

Third edition of the “Southeast Capital Landscape” report has been issued

Sep 29, 2021

Launched in 2019, it is billed as “an annual report on investor growth trends taking place throughout the Southeast region (defined as Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia).” In the introduction to the 2021 edition, the authors write that “the Southeast has steadily grown by 30 percent in new firm creation” in that period. “There are currently over 280 identified firms that are actively investing in pre-seed to private equity – demonstrating a growth of 40 new firms since our 2020 report  and 80 added firms since our inaugural  2019 report .” The good news is that Tennessee ranks third on the list of states by number of firms. It is behind Florida (#1 with 82 firms) and Georgia (#2 with 59 firms). Tennessee logs in with a total of 46 firms. If you look at cities across the Southeast where the firms are located, you get what you might expect – concentration in a few big cities. Atlanta ranks #1 with 58 firms including 40 that do early stage investments, while fast-growing Miami is #2 with 34 firms of which 26 invest at the early stages, and Nashville is #3 with 32 firms and 23 of them making early stage investments. Other Tennessee cities on the list are Chattanooga at #12 with six firms and Oak Ridge at #26 with two firms listed – Meritus Ventures and The Angel Roundtable – but neither is located there. Meritus was at one time, but is now operating out of Three Roots Capital’s deep West Knox County office, and The Angel Roundtable is clearly located in the Appalachian Highlands region. The report highlights several trends. In particular, we took note of one about women investors. The state with the highest number of them is Georgia with 25, followed by Tennessee and Florida tied for second place with 19 institutional investors. “Over half (53 of 90, or 58 percent) of women investors in the Southeast hold top leadership titles of Founding and/or General Partner, Managing Partner/Director, or Partner,” the report notes.

Meritus Ventures Investments

11 Investments

Meritus Ventures has made 11 investments. Their latest investment was in Frequency as part of their Series B on June 6, 2019.

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Meritus Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/26/2019

Series B

Frequency

$5.05M

Yes

2

9/3/2012

Unattributed VC

Pinnacle Medical Solutions

Yes

7/9/2010

Series A

Photizo Group

$1.2M

Yes

4/8/2009

Series B

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$99M

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0

6/10/2008

Unattributed VC

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$99M

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0

Date

6/26/2019

9/3/2012

7/9/2010

4/8/2009

6/10/2008

Round

Series B

Unattributed VC

Series A

Series B

Unattributed VC

Company

Frequency

Pinnacle Medical Solutions

Photizo Group

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Amount

$5.05M

$1.2M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

0

0

Meritus Ventures Portfolio Exits

4 Portfolio Exits

Meritus Ventures has 4 portfolio exits. Their latest portfolio exit was Pinnacle Medical Solutions on December 03, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/3/2020

Acquired

$99M

1

1/2/2019

Acquired

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$99M

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10

8/23/2017

Acquired

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$99M

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10

7/23/2010

Acquired

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$99M

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0

Date

12/3/2020

1/2/2019

8/23/2017

7/23/2010

Exit

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

0

Meritus Ventures Fund History

1 Fund History

Meritus Ventures has 1 fund, including Meritus Ventures I LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/12/2006

Meritus Ventures I LP

Multi-Stage Venture Capital

Closed

$37M

1

Closing Date

6/12/2006

Fund

Meritus Ventures I LP

Fund Type

Multi-Stage Venture Capital

Status

Closed

Amount

$37M

Sources

1

Meritus Ventures Team

3 Team Members

Meritus Ventures has 3 team members, including current Chief Financial Officer, Brenda Mcdaniel.

Name

Work History

Title

Status

Grady Vanderhoofven

Southern Appalachian Fund, Southeast Capital Partners, and Oak Ridge National Laboratory

Founder

Current

Brenda Mcdaniel

Chief Financial Officer

Current

L. Raymond Moncrief

General Partner

Current

Name

Grady Vanderhoofven

Brenda Mcdaniel

L. Raymond Moncrief

Work History

Southern Appalachian Fund, Southeast Capital Partners, and Oak Ridge National Laboratory

Title

Founder

Chief Financial Officer

General Partner

Status

Current

Current

Current

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