Impact Statement
Located in Cleveland, Ohio, North Coast Ventures invests in highly scalable, business-to-business, SaaS ventures focused on solving big problems where: Our membership and network can provide domain and functional expertise to help achieve superior outcomes, and our strong relationships with regional corporations can drive added value and lead to market making reference customers.
Acceleration Fund III is a venture capital fund that invests high-growth software companies that have achieved product-market fit and rapid growth.
Originally founded as an angel group in 2006, North Coast Ventures (formerly North Coast Angel Fund) focuses on early-stage technology investments and includes seven contributed capital funds. The investment entities are all for-profit, contributed capital funds. Four of these are fully invested (Seed Fund I, II, III and Acceleration Fund I). Three of the funds are partially invested (Seed IV, Acceleration II, and Syndication Fund). Each new Acceleration and Seed fund has been larger than the previous one (see facts and stats).
The funds are composed of over 400+ individual member-investors, including many of the region’s leading entrepreneurs, venture capitalists and business executives, making the North Coast Ventures (NCV) network the largest Ohio-based early-stage investor community and the fifth largest in the nation.
Over the past 17 years, NCV and its investors have deployed over $100 million into nearly 80 Ohio-based companies. These companies employ over 2,000 people in high-quality jobs in high-growth industries with an average salary of nearly $100,000. Within this same timeframe, NCV’s portfolio companies have raised almost $1 billion.
NCV has built a robust deal flow network, which is anticipated to deliver 200+ investment candidates annually. This deal flow pipeline is expected to translate into nearly 100 annual on-thesis, stage-appropriate screened opportunities. Historically, approximately 10% have advanced to Due Diligence and 3-5% have received investment.
NCV is preparing to launch Acceleration Fund III and anticipates a $50 million total fund size, its largest to date. Acceleration III invests after the initial seed stage, at a point where companies have demonstrated meaningful commercial traction and have articulated a credible plan to utilize larger amounts of capital for continued growth. NCV anticipates strong performance from Acceleration Fund III and is pursuing an aggressive strategy to build a diverse and innovative portfolio, propelled by a lean, experienced management team of five full-time members.
NCV has a proven track record of success with similar funds. Acceleration II made fifteen investments to date, in which investors will receive pro-rata interest. Acceleration II has exited two portfolio companies, Standard Bariatrics and Proformex, generating $2.4 million.
Disclosures
Past performance is not a guide to or otherwise indicative of future returns. The information contained in this proposal is being furnished on a strictly confidential basis, and by accepting this presentation, the recipient agrees to keep confidential, and not reproduce or redistribute the information contained herein. This proposal is for information purposes only and does not constitute an offer to sell or a solicitation or an advertisement of an offer to buy any securities. Any such offer may only be made by the execution and delivery, and North Coast Ventures’ acceptance of, a definitive subscription agreement and other legal documentation.
