LOUISVILLE, Ky. (WDRB) – Louisville venture fund Render Capital is again offering $100,000 investments to eight early-stage companies in a competition aimed at boosting the metro area’s startup scene.
The fund hopes to double the number of applicants, to 400, in the second year of the Render Competition.
Render Capital, a unit of the private foundation Access Ventures, seeks to invest in fledging, high-growth companies while attracting entrepreneurs to Louisville.
The program requires non-local companies to establish a presence in the Louisville-Southern Indiana metro area to receive the $100,000.
“These are pretty early-stage companies that are just on the verge of breaking out and need access to capital to accelerate their growth,” said Patrick Henshaw, managing director of Render Capital.
Henshaw said all eight are “alive and well. In fact, many of them are doing better than we expected.”
Render, a $15 million fund managed by Access Ventures, was established last year. Access Ventures, which seeks to build “a more inclusive and creative economy,” had $48 million in assets as of Dec. 31, according to its 2020 annual report.
Applications for the Render Competition are due May 6.