Review of Next Frontier Capital’s 2019 Annual Limited Partner Update

We aim to be the preeminent fund in Montana and the Northern Rockies to help companies progress from Seed through Series A by leading strategically syndicated rounds in the $2-4M range.

By executing on this mission, we help companies attain the resources and total PIC required to meet the minimum thresholds of national tier one follow-on investors.

On June 28th, NFC held its 2019 Annual Meeting. Thank you to all of our LPs for their continued support. Their faith and trust in our firm is truly impacting our state, creating tremendous opportunities for early stage companies.

We always enjoy the opportunity to update our LPs on our strategy, investment activity, portfolio performance, and outlook. Moreover, we know that the LPs enjoy hearing directly from our NFC portfolio executives, and we were thankful to have senior leadership from TwinThread, Quiq, Submittable, and our newest NFC Founder (investment to be announced in the coming weeks!) present live at the Rialto in Bozeman.

We write to share some high level thoughts we brought to the LP meeting after reflecting on the past year’s investments; as well as the trends we are observing in Montana, and more generally in the Northern Rocky Mountain West (MT, CO, UT, ID).