SOURCE: Tallwave

Tallwave

October 21, 2014 13:00 ET

Tallwave Capital Closes First Tech Seed Fund in Arizona; Raises $13.15 Million to Commercialize New Ventures

Early-Stage Venture Firm Employs Lean Design Principles to Help Their Investment Portfolio Companies Solve Difficult Business Problems

SCOTTSDALE, AZ--(Marketwired - Oct 21, 2014) - Tallwave Capital, an Arizona-based early-stage investment firm focused on investing in Software-as-a-Service (SaaS) platforms, mobile applications, digital media, ad tech and ecommerce platforms across North America, today announced the closing of the firm's Tallwave Commercialization Fund I. The $13.15 million fund is the only seed fund in Arizona focused exclusively on the technology sector.

Unique in its approach, Tallwave Capital was founded on the premise that in addition to funding, every great idea and great entrepreneur needs help along the way. Leveraging the value of its experience and network, Tallwave Capital believes in working side-by-side with entrepreneurs to help solve difficult business problems so that their new tech ventures can evolve and be rapidly commercialized.

"Investing is no longer just about funding and board seats," said Greg Lehmann, Principal, Tallwave Capital. "Having an investment team and group of advisors with real operational experience and a track record enables us to take an active role in supporting and guiding early stage companies as they navigate the daily challenges of building and growing a business."

The fund seeks to make seed investments of $125K - $400K in early-stage differentiated consumer and enterprise focused businesses in most industry vertical markets.

"This is an exciting time for Arizona's entrepreneurial ecosystem," said Jeffrey Pruitt, CEO of Tallwave LLC and Managing Partner, Tallwave Capital. "We look forward to working closely with Arizona's strong angel groups and the startup community to drive innovation and a return for investors entrepreneurs, and in turn Arizona."

A selection of current portfolio investments of the Tallwave Commercialization Fund I include:

Shelvspace, Scottsdale, Arizona, the Consumer Product Good industry's premier cloud-based selling platform that provides wholesalers a better way to get products on the shelf.

Solution54, Scottsdale, Arizona, patented software that enables specialty brick-and-mortar retailers to pool inventory and customers, thereby increasing sales opportunities and profits without increasing overhead.

Performance 3D, Scottsdale, Arizona, 3D motion capture and analysis technology that improves fitness performance and reduces the risk of injury.

Vida Systems, Mountain View, Calif., a scalable science-teaching platform that uses 3D graphics, social media integration, and game-based learning to educate college students in human anatomy and physiology.

myHint, Somerset, New Jersey, an engagement tool that makes it easier for people to stay on top of their health.

The Tallwave Commercialization Fund I advisor network is an amazing collection of investors, entrepreneurs, and technologists that are committed to creating a positive financial return to the fund and a boost the Arizona innovation ecosystem. A partial list includes:

Jeff Pruitt, Tallwave; Craig Barrett, Investor; Todd Belfer, Canal Partners; Mike Cowley, Strategic Capital Management; David Holthe, Inlign Capital Partners; Jon Kaiden, Sopris Capital; Allan Kaplan, KG Investments; Mario Martinez II, MRTNZ Ventures; Andy Paul, Sopris Capital; Bill Rinehart, Investor.

"The fact that Tallwave Capital was able to raise a seed fund focused on the tech sector in Arizona is a reflection of the commitment from investors to growing the innovation ecosystem in the state," said Allan Kaplan, Tallwave Commercialization Fund I Investment Committee member and managing partner of KG Investments. "I've been a tech entrepreneur and investor for 20 years and the momentum and enthusiasm from both the investment and entrepreneurial community in Arizona is encouraging."

Whether a start-up or an existing business, entrepreneurs in the technology sector from across the country wishing to apply for funding from the new created Tallwave Commercialization Fund I should contact Lehmann at greg.lehmann@tallwavecapital.com.

About Tallwave Capital

Tallwave Capital is an early-stage venture firm focused on making investments in Software-as-a-Service (SaaS) platforms, mobile applications, digital media and ecommerce companies across a variety of verticals including healthcare IT, ed tech and ad tech, among others. Headquartered in Scottsdale, AZ, Tallwave Capital invests in companies across North America.

Additional information about Tallwave Capital is available at: http://tallwave.com/tallwave-capital/.

Contact Information