Tech Leaders Forum of Charlotte

Our friends at Capwave AI are semi-finalists for the NC IDEA $50k Seed Grant! Great work Charlotte Ketelaar and the entire Capwave Team! We'll be cheering for you on stage tomorrow at Venture Connect too!

Our friends at Falfurrias Management Partners Raises $1.35 Billion for Fund VI! FCP announced today it has closed its latest oversubscribed middle-market private equity fund, Falfurrias Capital Partners VI, at?$1.35 billion?in investor commitments. The firm's previous fund, Falfurrias Capital Partners V, totaled?$850 million?and was raised in 2021. Together with Falfurrias Growth Partners (FGP), the firm's dedicated growth buyout fund investing in the software and business services sectors, Falfurrias is currently investing?$1.75 billion?in active funds and has raised approximately?$3.6 billion?in capital since its inception. The?Charlotte-based private equity firm, founded by former Bank of America CEO?Hugh McColl IV former Bank of America CFO?Marc Oken, and Managing Partner Ed McMahan, employs a distinctive investment approach centered on building concentrated portfolios in carefully selected durable growth markets. This strategy, driven by the firm's proprietary Industry First methodology, enables Falfurrias to focus its deal sourcing on markets benefiting from regulatory, demographic, and secular trends that create sustained growth opportunities. Falfurrias complements its Industry First strategy with the deep operating experience of its Partners and fourteen full-time team members focused on value creation within the firm's portfolio. The firm's team construction and investment strategy has led to industry-leading returns, as the firm's track record was placed within the top five small-cap buyout firms worldwide, as ranked by HEC Paris-Dow Jones in its most recent, 2023 report. 2024 was a record year for Falfurrias' deployment and exit activity across both its FCP and its FGP strategies. The firm invested?$557 million?across nine new platforms and two add-on investments. Recent notable exits include the sale of ETech to Graham Partners and Combined Caterers to CCMP Growth Advisors in 2024, and?Sauer Brands, Inc. ?to Advent International in 2025. Falfurrias also announced investments in the award-winning clinical trial solution Jumo Health, cyber-security company MOXFIVE, leading snack manufacturer Snak King - Your Snack Innovation Partner - Private Label and Branded Snacks, and digital services agency Oddball, among others. "We are proud of our team's ability to work alongside our portfolio company's management teams to drive sustained growth through operational excellence," said?Joe Price, Partner at Falfurrias. "Our latest fundraising continues to validate our focused approach to value creation." McGuireWoods LLP served as counsel to Falfurrias in the organization and offering of interests?in the fund, and Shannon Advisors partnered with the Falfurrias team on fundraising. https://lnkd.in/equRF3ci

Charlotte entrepreneurs land on Inc.'s Female Founders 500 list Inc. Magazine has unveiled its 2025 Female Founders 500 list, highlighting a distinguished group of women who are reshaping industries and driving change. Among this year’s honorees is Sheri Atwood, founder and CEO of Charlotte startup SupportPay, recognized for expanding support in cross-household expense sharing for caregivers. "It's an incredible honor, especially to be named alongside some of these amazing women," Atwood told?CBJ. Another local entrepreneur that landed on the list is Christine Edwards Pitkin, MPA,?founder of Charlotte consulting firm Civility Localized . The Female Founders list, now in its eighth year, celebrates women entrepreneurs who challenge norms and tackle pressing issues. Collectively, the honorees have generated approximately $9 billion in revenue over the past year and secured $10.6 billion in funding. Atwood emphasized that the recognition not only showcases the capital raised by female founders but also highlights their revenue impact, a crucial factor that often gets overlooked. A former Silicon Valley executive and a single mother, Atwood founded SupportPay in 2014 to streamline financial coordination for families navigating shared expenses. Inspired by personal challenges — from witnessing her parents' divorce to managing finances after her own — she developed a platform that simplifies expense tracking and payments between co-parents. "Money and family collided, and it was detrimental to relationships," Atwood said, recounting the financial conflicts she witnessed in her own family. "I was simply looking for a solution to solve the problem, and there was nothing out there. And so that's why I decided to start SupportPay." After seven years in Sacramento, California,?SupportPay relocated its headquarters to Charlotte?in 2023. Despite her success, Atwood acknowledges the ongoing challenges female founders face, particularly in securing venture capital. Women founders without male co-founders received about 1% of VC funding in 2024 and 6% of all VC deals, according to?PitchBook's data as of Dec. 31. Several of the featured founders were highlighted in Inc.’s Female Founders issue, which hit newsstands on March 18. The full list of honorees can be found at?Inc.’s website. https://lnkd.in/eUxTkEhT

You know its been a good week when we make the Dualboot Partners Dossier!

Our friends at PetScreening closes an $80 million Series B funding round! The startup, which provides pet policy management solutions for the rental housing industry, announced today the round has closed. The investment was spearheaded by technology-focused firms Volition Capital and Guidepost Growth Equity. PetScreening said the capital will enable the company to accelerate growth, enhance services and expand its team. "Now, we continue to just not only grow the product we have but enhance its functionality with an extreme laser focus on compliance," John R. Bradford, III, PetScreening's founder and CEO, told?CBJ. PetScreening will be announcing a new compliance tool within the next month, Bradford said. It's also expanded its footprint into military housing, a new vertical for the company. PetScreening has grown significantly since its inception in 2017, now serving more than 7 million rental units across various housing sectors, including multifamily, student, affordable and military. The platform has facilitated nearly $300 million in pet-related revenue for property owners and has processed over 1.3 million accommodation requests for assistance animals. The startup currently employs over 135 people and operates out of a 32,000-square-foot?pet-friendly office in Mooresville.?PetScreening has received recognition from the #Inc5000?and Deloitte Technology Fast 500 lists and was recently featured in the?Charlotte Business Journal's?Fast 50 ranking in 2024. In addition to its growth and funding success, PetScreening has continued to innovate for pet owners. It recently?launched a no-cost, Amber Alert-style service for lost pets, including FidoAlert for dogs and TabbyAlert for cats. The company also expanded its offerings with the acquisition of Charlotte-based BetterPet.com, a veterinarian-driven content platform. PetScreening simplifies pet-related risk assessment by providing a centralized platform where renters can register their pets. The system evaluates factors such as breed, weight and age, ensuring that property owners can enforce policies consistently. It offers a free profile option for non-pet-owning residents to acknowledge community pet rules. Additionally, the platform reviews and processes reasonable accommodation requests for service and support animals. https://lnkd.in/eZ7DMYWz

Bam! Well done!

?????? Shout out to Bryan Davis for being our 2,000th follower! ??????

Our friend Lori Burns in today's CBJ headlines! A fintech startup that recently launched in Charlotte is setting out to transform the way businesses handle payments. RUBYFIVE, launched last week, was created to simplify transactions, optimize cash flow and enhance vendor relationships. The company is focused on real-time payments, embedded finance and supplier-friendly solutions. It was founded by Lori Burns, a veteran in the financial industry with over two decades of experience. She previously worked at?Wells Fargo, AvidXchange, Inc., Bank of America and other financial institutions. Burns saw an opportunity to create a more efficient and cost-effective payments system compared to traditional banking methods. "I always had the entrepreneurial bug," she said. "And one day, I had three major things that I’d been watching in the market that I wanted to bring together." One of those was the launch of real-time payments in the U.S., which Burns said she believes is a game-changer. "It’s like a wire where funds settle instantly, but it’s cheaper and widely available," she told?CBJ. Additionally, she recognized the shift in business preferences toward managing finances within their accounting systems rather than using separate banking portals. She also sought to develop a payment model that was more cost-effective for suppliers, avoiding the high fees associated with credit card transactions. RubyFive differentiates itself from competitors by prioritizing simplicity and a product-led approach, Burns said. "We built a really simple, beautiful product," she added. "We are embedded into an accounting system, using its unique features to make payments seamless. The money doesn’t go to a third party first — it goes directly to the bank and then to the supplier. That allows us to keep costs down and ensure suppliers get paid instantly, often at no cost." With automation at its core, RubyFive removes traditional bottlenecks in payment management. Businesses can gain full control over their financial processes while reducing administrative burdens. Because the system automates transaction postings, reconciliation work is lessened while financial accuracy is improved. The platform allows businesses to optimize cash flow by timing payments strategically, leveraging early payment discounts and maximizing working capital. "Real-time payments aren’t at every bank yet, so our target market is limited for now, but the more value we show, the more buzz we create, and that will push banks to implement these solutions faster," she added. https://lnkd.in/e-jGwF8c

Big announcement from our friends at VentureSouth! Two big venture capital firms in the Southeast have teamed up to create a new platform aimed at revolutionizing local alternative investing. That platform, called Vicinity Ventures, was created by VC firms VentureSouth and Vicinity Capital. The collaboration merges the expertise of VentureSouth, known for its early-stage technology investments, with Vicinity’s industry-leading public funding portal. "VentureSouth has, for several years now, been ranked as one of the top 10 early-stage investing groups in the country by the Angel Capital Association," said?Dan Roselli, market lead for VentureSouth in Charlotte?and co-founder of local accelerator RevTech Labs Capital. "It’s a real player in the space." Vicinity Ventures aims to streamline the investment process, offering investors a single platform to explore, evaluate and track a diverse range of opportunities. That includes early-stage startups, small-cap private equity and innovative real estate projects. By combining their resources, the two firms plan to expand access to capital for entrepreneurs while providing investors with a wider array of curated deals. The joint venture unites two well-established investment networks, leveraging VentureSouth’s extensive footprint and accredited investor base with Vicinity’s advanced technology platform. VentureSouth will continue offering exclusive opportunities to accredited investors, while Vicinity’s focus will remain on broadening access to local investment options across the region. "The win for VentureSouth is the 500 members we already have now have access to a wider variety of investment options, which should be attractive," Roselli said. "And the win for Vicinity is they’re getting access to an already established network under the best in the Southeast of potential investors." While the collaboration provides expanded opportunities, Roselli said it is not a merger but an additional offering from both companies. "VentureSouth is going to keep its name and keep doing what it’s doing, and Vicinity will do the same," he said. "There’s now an opportunity for both ecosystems to kind of collide in a positive way." While both firms are headquartered in Greenville, South Carolina, Charlotte-based investors and startups will benefit from the expanded network, Roselli said. VentureSouth, founded in 2014, expanded its angel network to Charlotte in 2016. Since its inception, VentureSouth has built a network of over 500 active investors, collectively investing nearly $100 million into 116 startups across the Southeast. Since launching in 2019, Vicinity has attracted more than 2,400 users, with 1,200 investors backing 20 projects, raising nearly $20 million. The combined platform aims to position itself as the go-to destination for alternative investments in the Southeast. https://lnkd.in/e-Ubhf_Q

Come support many of our TLF Friends including Todd Buelow Mark McDowell Meggie Williams Ramy Serageldin Sam Smith as they try their hand at comedy and raise money for a great non-profit Dottie Rose Foundation. We hope to see the Charlotte Tech Entrepreneurial showing up and supporting these brave individuals.