Render Capital is doubling its size with the closing of a second fund.
The regional investment firm, based in Louisville, launched with a $15 million fund in February 2020. Now, with the closing of a second fund, it will have nearly $30 million under management, according to a news release.
Since its founding, Render Capital has deployed more than $5.3 million in capital and invested in over 30 local startups.
The new second fund will focus on an expanded footprint to include more areas of the Midwest and South in addition to the firm's current target area of Jefferson County, Kentucky, and Floyd and Clark counties in Indiana. It will be making seed growth stage equity investments into startups who have "innovative solutions, experienced teams and are attacking a large market with global application," the release continued.
Industries of focus will include healthcare/health IT, supply chain and logistics, advanced manufacturing, consumer goods and e-commerce, food and beverage and B2B software-as-a-service.
The fund is backed by all of Render Capital’s current investors and adds an institutional anchor of 50 South Capital and other notable entrepreneurs, business owners and family offices, such as Brook Smith and Rocket Ship Launch Pad.
“We are excited about the momentum we are seeing in this region and are looking forward to putting more capital to work for local entrepreneurs," said Patrick Henshaw, managing director of Render Capital, in the release. "We are proud of our team and the trust they have built with founders and investors alike within our ecosystem. This new fund will be a catalyst for our work moving forward."
In addition to the new fund, Render Capital announced the new strategic hire of Mike Shepard, who will be joining the team as the new operating partner, investments and finance. He brings over 20 years of experience working with and scaling high-growth companies in industries including data centers, edtech, health care IT, medical device and agtech, where he raised over $50 million in angel and venture capital.
Most recently, as a venture capitalist and entrepreneur-in-residence at Elevate Ventures, Shepard advised companies in a wide range of industries and made investment recommendations.
“I have a passion for working with early-stage founders and helping them live their best life," he said in the release. "I am excited to bring this passion to Render Capital, which has quickly become one of the major players in the region for venture capital. I am excited to be joining a team that is doing amazing work expanding access to capital for our region’s best startups."
Render Capital will host its Render Competition on Thursday, Sept. 22, at Lynn Family Stadium. The free event, held during Louisville Startup Week, will award $100,000 investments to eight startups.
