NCRC Venture Fund
The venture capital arm of the North Carolina Research Campus, the NCRC Venture Fund, will invest in emerging biotech and life sciences companies, and will bring additional capital to the Kannapolis region.
The purpose of the Fund is to be strategic in supporting four corporate goals:
- Increase occupancy of the NCRC lab and office space holding by locating portfolio companies to NCRC.
- Invest in companies that will be strategic (food preservation and handling, nutriceuticals and functional foods) to the growth of Dole Foods.
- Facilitate technology transfer from NCRC-affiliated universities.
- Maximize a significant financial return on investment.
The Fund focuses on these technology areas within life sciences:
- Health and wellness
- Agricultural biotechnology
- Medical devices (e.g., ortho, cardio)
- Medical diagnostics (e.g., molecular)
Applying for funding
The Fund prefers to invest in early-stage deals, specifically those companies that are completing development of products and initiating marketing efforts. Companies should have completed preliminary product development and marketing, proof-of-concept research, assembled a management team and developed a business plan. If applicable, the company's product(s) should be no later than 12 months from clinical trials (if applicable).
The first step in the application process is the submission of your executive summary. The summary should include:
- A general description of the business and science
- Overview of the company's value proposition
- Description of the market
- Profile of customers
- Brief biographies of the senior management team
- List of competitors and the company's differentiation
- Outline of the company's exit strategy
For information regarding the Venture Fund, or to submit a summary, please contact Sheetal Ghelani at sghelani@castlecooke.com or 704-273-1218.