Greenville base Next It launched a $6 million capital fund in January 2023. Since then, the firm has invested nearly $3 million in several companies, with another one expected to join soon.
However, Founderville was previously Founders Fundis more than just a venture fund that puts money in and takes money out, said co-founder Shay Hauser.
“The theme of this fund is former Greenville founders funding the next generation of founders,” he said. “We have 45 investors from Greenville participating in this fund, all of whom are founders or C-level executives at venture-backed or private equity funds, and are leaders who are willing to commit time to investing.”
Hauser said competition for funding is fierce, but he hopes the fund can grow to $12 million as he attracts tech startups from the Carolinas and Georgia and hosts a year-long residency program. Flywheel GreenvilleFurman University’s Hill Institute for Innovation and Entrepreneurship is also a partner in the effort.
“We’re bullish and we’re excited,” he said. “We’re committed and we think the next step is to attract businesses here, and the condition is that they relocate (to Greenville) for a year, and we’ll guarantee a minimum investment of $100,000 for each business that comes here, and we’ll also provide housing and living assistance.”
Hauser said the goal is to add eight companies per year over the next decade, and that his long-term goal is to build a startup ecosystem in Greenville that can retain and attract the next generation of founders.
“Data shows that by 2030, the majority of Greenville’s population will be over 65,” he said. “People will be retiring instead of starting businesses. If we don’t make big changes by then, [Greenville] “The focus will be entirely on manufacturing and hospitality going forward, and I don’t think that’s where we want to be.”
Meanwhile, Hauser said, Clemson University Not only are computer science graduates not coming to Greenville, they’re leaving South Carolina.
As the technology industry grows through investment, the workforce is expected to grow with it.
“When you invest in a company, other money follows,” Hauser said. “In one startup, we invested in it, and two other companies quickly joined, tripling the total investment. And that money is being spent here in Greenville, in professional services like CPAs, law firms, payroll companies and other tech support companies.”
“This is business feeding business,” he said. “Everybody wins.”
Next Founderville Funding Recipients
Startups that have received funding from Founderville to date:
