Triangle Tweener Fund

The Triangle Tweener Fund, based in Durham, North Carolina, represents a distinctive approach to early-stage venture capital, primarily focusing on companies within the vibrant Triangle region. Founded by Scot Wingo, a serial entrepreneur known for co-founding ChannelAdvisor and Get Spiffy, the fund aims to create a diversified 'index fund' of private company investments. This strategy involves making numerous smaller investments rather than concentrating large sums in a few select startups, thereby seeking to capture the overall growth of the regional tech ecosystem.

The fund targets companies in what it terms the 'tweener' stage—those that have moved beyond initial friends-and-family funding but are not yet mature enough for substantial Series A institutional rounds. This niche allows the fund to support promising startups that might otherwise struggle to secure capital in a critical phase of their development. Scot Wingo's deep roots and extensive network within the Triangle's entrepreneurial community provide the fund with proprietary deal flow and valuable insights into the local market.

Since its inception, the Triangle Tweener Fund has demonstrated a commitment to its high-volume investment thesis. Its initial fund, Fund I, raised $10 million, and it was followed by Fund II, which secured $15 million in capital. The fund's ambitious goal is to invest in over 100 companies, spreading its capital across a broad portfolio to mitigate risk and maximize exposure to potential successes. Typical first checks range from $100,000 to $250,000, designed to provide crucial early capital while allowing the fund to participate in a high volume of deals. This model is seen as a vital component in strengthening the entrepreneurial infrastructure of the North Carolina Triangle.