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Next Frontier Capital Announces $20 million Fund I To Build Montana Technology Companies

May 27, 2015View for printing

Next Frontier Capital (NFC) http://www.nextfrontiercapital.com , a Montanabased venture capital firm, today announced the Initial Closing of its inaugural $20 million fund.

NFC's mission is to partner with missiondriven, talented entrepreneurs to build Montana technology companies of impact, utility and value. Montana is characterized by a tradition of entrepreneurship, high university and commercial research activity, quality venture investment candidates, and yet is severely undercapitalized.

The Fund, backed by investors from the world's top technology, investment, and venture capital firms, is seeking Montana technology investment opportunities primarily in industries dominated by high intellectual property values. Example industries of interest are software, healthcare, and optics and photonics. The Fund will serve as a trusted local syndicate partner to nonMontana venture capital firms, while providing Montana entrepreneurs with company formation and growth expertise and accelerated access to talent, partners, and customers. NFC will also consider nonMontana investment candidates on a select basis.

The Fund's Founder and Managing Partner is Will Price. With a Montana family history dating to the 1870s, Will is passionate about investing in the state's promising future. Richard Harjes, a successful investor, scientist, and rancher, joins the firm as a Venture Partner. Will and Richard bring experience and expertise in venture capital, investment management, and in starting and growing successful technologydriven companies. The Fund seeks to lead or colead venture investments in Montana industries and expects to invest $200,000 to $1,500,000 in any given deal. In addition to providing capital, the Fund is committed to leveraging its network and experience to provide accelerated access to talent, partners, customers, and capital.

"With topnotch universities, a tireless workforce, incredible public lands, and an unmatched quality of life, Montana is the best place in the country to start a business. Now, with new investments by folks like Next Frontier Capital, more entrepreneurs will have access to the financing they need to grow a successful businesses and create jobs here in Montana," said Senator Jon Tester.

Senator Daines said, "Montanans know that our state is the best place in the country to live -- and when our small businesses have the tools and access to capital they need, our state becomes an even better place to work. The investments made by Next Frontier Capital will help spur small business innovation and growth right here in Montana -- in turn, creating new goodpaying jobs and increasing opportunities for success in Montana's growing technology sector."

Governor Bullock noted, "My Main Street Montana Project has identified access to capital as one of the challenges businesses face in Montana. It's good to see folks across our state working to find solutions to meet that challenge." Representative Zinke said, "With the amount of untapped entrepreneurial talent in Montana, it is welcome news that Next Frontier Capital is committed to funding and building business ideas here at home. Montana truly is the last best place on earth. I'm happy to see investments are being made to make it easier for folks to build a business and grow a family here, especially at the time of year when so many young entrepreneurs are graduating college."

Seth Levine, Foundry Group's CoFounder and Managing Director, said, "With his deep roots in the West and specifically in Montana and his long history as an investor and executive, Will is the perfect person to build NFC. Having known and worked with him for more than 20 years, I jumped at the opportunity to invest in him and NFC. I strongly believe that great companies are being created all over the US and particularly in the West. Having lived, worked and invested in Colorado for over a decade I've watched this growth first hand. Montana has all of the ingredients of a great entrepreneurial community and Will and the NFC team are perfectly poised to help continue its growth." Will Price, NFC's Managing Partner, noted, "The Fund's Initial Closing is a testament to the potential of Montana's future, the creativity and grit of her entrepreneurs, and a recognition by our Limited Partners that Montana is a worthy destination for venture capital."

About NFC

Founded in 2015 and based in Bozeman, NFC's mission is to partner with missiondriven, talented entrepreneurs to build Montana technology companies of impact, utility and value. Montana is characterized by a tradition of entrepreneurship, high university and commercial research activity, quality venture investment candidates, and yet is severely undercapitalized.

The Fund, backed by investors from the world's top technology and venture capital firms, is seeking Montana technology investment opportunities primarily in industries dominated by high intellectual property values. Example industries of interest are software, healthcare, and optics and photonics. The Fund will serve as a trusted local syndicate partner to nonMontana venture capital firms, while providing Montana entrepreneurs with company formation and growth expertise and accelerated access to talent, partners, and customers.

Next Frontier Capital

Will Price

(406) 2099743

http://www.nextfrontiercapital.com

will@nextfrontiercapital.com
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