Tri-County Economic Development Corporation
Northern Kentucky Seed Fund Initiative
Lakeside Park, KY
Seed Fund Support
Federal Share: $300,000.00
Local Match: $300,000.00
The Tri-County Economic Development Corporation will create, launch, and manage a $10 million investment fund, named the Northern Kentucky (NKY) Seed Fund to increase access to seed stage capital in the Northern Kentucky region. The Fund will target three recently established and funded innovation clusters – logistics and supply chain innovation; health innovation; and informatics innovation. Northern Kentucky has aligned award-winning resources to prepare the companies for their initial funding round, growth and follow-on funding. The Initiative will provide the implementation of all the necessary fund structure and operations required for fundraising, deal sourcing, due diligence, investment decision making, and portfolio management. Co-investment and syndication partner relationships will be sourced and established. The total $600,000 in grant funds will support contracted outsourced resources for fundraising, fund development and fund management. A total of approximately 52 companies will receive initial seed funding and 314 jobs will be created, while attracting $100 million in outside investment capital.