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Fund Profile:
Adena Ventures, L.P.
20 East Circle Drive, Athens, Ohio 45701
Telephone: (740) 597-1722
Fax: (740) 597-1399
Website: www.adenaventures.com
Email: gellermann@adenaventures.com
Key Personnel:
Partners - Lynn Gellermann, Andy Zulauf, David Wilhelm, Jakki Haussler, Tom Parkinson, Jeff Doose
Established: April 24, 2002
Total Committed Capital: $34 million
Amount Invested: $8.3 million
Geographic Focus: Central Appalachia (see details below)
Strategic Partners:
Ohio University
University of Charleston
Cornerstone Partners
Maple Creative
Fahlgren-Mortine
Others (see below)
Background
Adena Ventures is the nation's first New Markets Venture Capital (NMVC) company. The Fund provides both investment capital and operational assistance to smaller enterprises and entrepreneurs in the Fund's target region of central Appalachia, which includes: southeastern Ohio, West Virginia, western Maryland and northeastern Kentucky. The fund is backed by twelve institutional investors, the U.S. Small Business Administration and several prominent strategic partners from both the public and private sectors, including: Ohio University, the University of Charleston, Maple Creative, PricewaterhouseCoopers and Cornerstone Partners, Inc.
Social Mission
The Fund's goal is to promote shared and sustainable economic growth in the Central Appalachian region while generating market-rate returns for its investors.
Investment Information
The Fund invests in diverse sectors, including information technology, healthcare and e-learning. The Fund invests between $500,000 and $2.5 million in early and growth stage companies. The Fund seeks to co-invest with other institutional investors when appropriate.
The Fund and its strategic partners also provide significant operational assistance resources to companies before, during and after investment. Examples of operational assistance services, which are provided at no cost to the portfolio concerns, include: marketing, executive recruiting, business planning, technology assessment and more.
To-date, the Fund has invested in seven companies operating in diverse industries ranging from cutting-edge technology to more traditional services. The Fund has also assisted nearly fifty companies with its operational assistance program.
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