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WINSTON
SALEM
PARTNERS
ROUNDTABLE

Investment capital for Winston-Salem’s promising early stage companies.

About Us

WSPR is a group of over 60 accredited investors who are advancing the economy of Winston-Salem, North Carolina by investing together in promising early stage companies.

Our investors include seasoned business leaders with experience across a wide array of industries.  We are able to provide mentorship and strategic support in addition to investment capital.

 

Why Winston-Salem?

Since its earliest days, Winston-Salem’s growth has been spurred by the innovation of its entrepreneurs. Many things about this city have changed since its inception – trading textiles for tech startups and cubicles for co-working spaces. Today, a wide range of organizations including Winston StartsFlywheeland the Center for Creative Economy provide a full continuum of support for entrepreneurs seeking programming, mentorship, and networking opportunities. Further fueling Winston-Salem’s thriving startup scene are several funding sources in addition to the WSPR Fund, including Venture Winston Grants and FCA Ventures

The crown jewel is Winston-Salem’s Innovation Quarter, one of the fastest-growing urban-based districts for innovation in the United States with more than 1.9 million square feet of office, laboratory and educational space—which is now home to more than 170 companies, five academic institutions, 3,700 workers and 1,800 students. If you are embarking on a new business venture, Winston-Salem has all the resources you need to succeed.

Investments

Since our founding in 2021, WSPR Fund has made the following investments:

Entrepreneurs

WSPR provides seed-stage funding to companies based in, or committed to relocating to, the greater Winston-Salem area.

Investment Profile

  • Typical investment size of $100K – $300K
  • Convertible notes or preferred stock
  • Will lead, co-lead, or follow
  • Board seat: in some cases where WSPR is leading an investment round, WSPR may request a board seat or observer seat.

Criteria

  • Companies must be based in, or committed to relocating to, the greater Winston-Salem area of North Carolina
  • Compelling customer problem
  • Compelling and defensible solution
  • Large addressable market; regional, national, or global in scope
  • Business model scalable with speed and capital efficiency
  • Focused go-to-market strategy
  • Led by talented, trustworthy, determined and resourceful management team
  • Industry agnostic, with preference for industries in which WSPR membership has expertise.  This includes healthcare, IT, data analytics, apparel, education, virtual reality, automotive technology, and unmanned aviation, among others.
  • Credible exit opportunities within 5 year time horizon
  • C-corporation entity type

Process

  • Contact hello@wsprfund.com for information regarding application submission.
  • Qualified applicants are screened by the WSPR leadership team.
  • Selected companies are then invited to pitch in person to the entire WSPR membership.
  • After due diligence, WSPR makes a final investment commitment, and participates in the investment as a single entity on the company’s cap table.

Investors

WSPR is a group of over 60 accredited investors who are advancing the economy of Winston-Salem, North Carolina by investing together in promising early stage companies.

Our investors include seasoned business leaders with experience across a wide array of industries.  We provide mentorship and strategic support in addition to investment capital.

For information on investor membership, contact hello@wsprfund.com.

Press

WSPR Fund Invests in Two Early-Stage Companies (2022.04.28)

Winston-Salem Partners Roundtable (WSPR) Fund makes its fourth and fifth investments bringing the total amount invested over the past 8 months to $770,000

WINSTON-SALEM, NC (April 28, 2022) — The WSPR Fund, a Winston-Salem based angel group with over 70 members, has closed its fourth and fifth investments in Winston-Salem based early- stage companies. Since WSPR began accepting applications in September 2021, the fund has invested over $770,000 in four companies.

The latest funding includes an initial investment in Smoodi, Inc. and a follow-on investment in NVOLVE, Inc. The two other WSPR portfolio companies are Village Juice & Kitchen and BEAM Dynamics.

“The WSPR Fund is on track to invest more than $1 million in local startups within its first year,” says Mark Owens, President and CEO of Greater Winston-Salem, Inc. “With access to capital through the WSPR Fund and several other local sources, we have filled in the resource gaps to build one of the best entrepreneurial environments for companies to grow. We are excited to see what new products and innovations local companies will bring to the market.”

smoodi

Co-Founders: Pascal Kriesche and Morgan Abraham

Smoodi offers healthy smoothies at the tap of a button through its proprietary, automated, self- cleaning smoothie machine. Smoodi also provides pre-packed, all-natural frozen smoothie cups in a separate freezer unit. In addition to receiving funding from the WSPR Fund, Smoodi has also secured funds through Venture Winston Grants.

NVOLVE

Founder: Tom Frosheiser

NVOLVE keeps providers informed, and patients engaged, between office visits via Remote Patient Monitoring solutions consisting of Bluetooth-enabled wearable devices along with physician reports and dashboards.

WSPR Fund

The WSPR Fund accepts applications from early-stage seeking funding on an ongoing basis. To learn more, visit wsprfund.com. To access additional information about Winston-Salem’s resources for startups and early-stage companies, visit winstonsalem.com/entrepreneurial-ecosystem.

Contact us at hello@wsprfund.com.

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The Winston-Salem Partners Roundtable (WSPR) Fund is an independent group of more than 70 accredited investors. The WSPR Fund is faciliated through the entrepreneurial initiatives division of Greater Winston-Salem, Inc.

Greater Winston-Salem, Inc. supports Winston-Salem and Forsyth County’s economic growth through initiatives in economic recruitment and retention, talent and workforce development, advocacy, and entrepreneurial programming. We are committed to bringing an innovative mindset and collaborative efforts to initiatives that develop a vibrant community that’s good for business growth and sustainability. Our efforts are informed by our 2030 Vision: to be the top mid-sized city in the Southeast, to be a more equitable community, and to be the best place to raise a family. Learn more at winstonsalem.com.

WSPR Fund Invests Seed Capital in Three Early-Stage Companies (2022.01.10)

The Winston-Salem Partners Roundtable (WSPR) Fund makes three initial investments totaling $554,000

 

WINSTON-SALEM, NC (January 10, 2022) — The WSPR Fund, an angel group with over 60 members, has closed its initial investments in three Winston-Salem based early-stage companies totaling $554,000. In addition to capital, the WSPR Fund is able to provide strategic support to assist early-stage companies as they grow.

To qualify for investment, a company must be based in or committed to relocating to Winston- Salem/Forsyth County. The WSPR Fund began accepting applications in September 2021 and is pleased to announce it has closed the following investments:

BEAM Dynamics

Founders: David Kaszycki & Ryan DeMars

BEAM Dynamics helps the film and entertainment industry reduce costly downtime on set with the BeamON asset management and equipment intelligence platform.With 12 employees at present, the Company has several pilot customers including Hearst and Graham Media.

Nvolve

Founder: Tom Frosheiser

NVOLVE keeps providers informed, and patients engaged, between office visits via Remote Patient Monitoring solutions consisting of Bluetooth-enabled wearable devices along with physician reports and dashboards. With 30 employees at present, the Company currently has 15 physician practices throughout the southeast as customers including Wake Forest Baptist Health.

Village Juice & Kitchen

Founders: Nathan Atkinson, Lonnie Atkinson, and Clyde Harris

Village Juice & Kitchen uses fresh, high-quality fruits and vegetables to craft cold-pressed juices, salads, and more. With 45 employees at present, the Company has several University clients including Wake Forest, UNC Chapel Hill, Elon, UNC Wilmington and the University of South Carolina. The Company has also begun expanding its franchising and has several franchise locations.

The WSPR Fund’s goal is to generate returns to the members and to recruit and retain promising scalable companies to Winston-Salem while introducing them to the wide support of the local entrepreneurial ecosystem. Steve Lineberger, a WSPR Fund general partner, says “The members of WSPR have made three strong investments in local Winston-Salem companies with tremendous scaling potential. I think we are seeing the results of strong local, scalable startups being presented to a very supportive Winston-Salem community.”

The early-stage companies plan to utilize the funding to accelerate their growth. “Having the support of WSPR has been instrumental in helping us continue the momentum we’ve established scaling our brand this year,” says Nathan Atkinson, co-founder of Village Juice and Kitchen.
“We have identified a growth strategy to place our locations on college campuses across the country, as well as expand both our product line and continue to place locations in our region via franchising, so having the financial and operational support of WSPR has been key to successfully continuing that growth.”

Tom Frosheiser, CEO of Nvolve says “The capital will enable Nvolve to accelerate and broaden our sales growth in 2022 and the WSPR network will be a valuable partner as we continue to hire, innovate and scale our operations to help more patients and providers in more locations and in more physician specialties.”

David Kaszycki and Ryan DeMars originally established BEAM Dynamics in Atlanta in 2020 but quickly realized the potential of locating in Winston-Salem and integrating into the startup ecosystem here in order to access resources including the WSPR Fund. “We liked what we learned about the Winston-Salem startup ecosystem and how we could be a central player in the community right from the start. This investment provides critical launch capital as we head into a growth year in 2022,” says David.

The WSPR Fund accepts applications from early-stage seeking funding on an ongoing basis. To learn more, visit wsprfund.com. To access additional information about Winston-Salem’s resources for startups and early-stage companies, visit winstonsalem.com/entrepreneurial-ecosystem.

The Winston-Salem Partners Roundtable (WSPR) Fund is an independent group of more than 60 accredited investors. The WSPR Fund is facilitated through the entrepreneurial initiatives division of Greater Winston-Salem, Inc.

Contact us hello@wsprfund.com.

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Greater Winston-Salem, Inc. supports Winston-Salem and Forsyth County’s economic growth through initiatives in economic recruitment and retention, talent and workforce development, advocacy, and entrepreneurial programming. We are committed to bringing an innovative mindset and collaborative efforts to initiatives that develop a vibrant community that’s good for business growth and sustainability. Our efforts are informed by our 2030 Vision: to be the top mid-sized city in the Southeast, to be a more equitable community, and to be the best place to raise a family. Learn more at winstonsalem.com.

Contact Us

For more information, send email to hello@wsprfund.com.