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This approach builds an 'index' of NC Tweeners with the strategy of not missing a huge win vs. the traditional venture approach of trying to pick winners.The concept is derived from power law dynamics, you can learn more by reading this and the .NC Tweener Fund makes a larger number of smaller investments. 15+ per quarter at a $50k average.
Key Cities: Asheville, Boone, Hickory, Morganton, Waynesville, Sylva, Brevard, Marion, Hendersonville, Lenoir.Counties: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Cherokee, Clay, Cleveland, Graham, Haywood, Henderson, Jackson, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, Watauga, Wilkes, Yancey.
Key Cities: Raleigh, Durham, Cary, Chapel Hill, Morrisville, Apex, Holly Springs, Wake Forest, RTP, Clayton, Smithfield.Counties: Chatham, Durham, Franklin, Granville, Johnston, Orange, Person, Wake.
Key Cities: Greensboro, Winston-Salem, High Point, Burlington, Kernersville, Lexington, Thomasville.Counties: Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Randolph, Rockingham, Rowan, Stokes, Surry, Yadkin.Key Cities: Charlotte, Concord, Huntersville, Matthews, Gastonia, Mooresville, Statesville, Monroe, Salisbury.Counties: Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg, Stanly, Union.Key Cities: Fayetteville, Southern Pines, Pinehurst, Lumberton, Laurinburg, Rockingham, Sanford.Counties: Anson, Bladen, Columbus, Cumberland, Harnett, Hoke, Lee, Montgomery, Moore, Richmond, Robeson, Sampson, Scotland.
Key Cities: Wilmington, Jacksonville, Morehead City, Elizabeth City, Nags Head, Kill Devil Hills, Emerald Isle, Southport.Counties: Beaufort, Brunswick, Carteret, Currituck, Dare, Hyde, New Hanover, Onslow, Pamlico, Pender.Key Cities: Greenville, New Bern, Rocky Mount, Wilson, Goldsboro, Kinston, Roanoke Rapids, Tarboro, Washington.Counties: Bertie, Camden, Chowan, Craven, Duplin, Edgecombe, Gates, Greene, Halifax, Hertford, Jones, Lenoir, Martin, Nash, Northampton, Pasquotank, Perquimans, Pitt, Tyrrell, Vance, Warren, Washington, Wayne, Wilson.
Fund Strategy
There are three key components to the NC Tweener Fund, Powered by NC IDEA's strategy: Building an index, focus on Tweeners, and a geographic focus on North Carolina.
01. Index Strategy
02. Tweener Focus
Based on data from over 10 years of tracking 'Tweeners', we believe this group of companies has more great outcomes and fewer closures than other cohorts of companies.
03. Focus on NC
North Carolina is a fantastic place to start a company, and our geographic focus is a key part of our strategy.
Universities
North Carolina has one of the strongest university networks in the country. From Duke, UNC Chapel Hill, and NC State to Wake Forest, UNC Charlotte, ECU, App State, and NC A&T, the state consistently produces top-tier talent across engineering, life sciences, fintech, and advanced manufacturing.
Building great companies starts with smart people, and North Carolina operates as a distributed talent engine across the entire state.
Diversity
North Carolina’s innovation economy spans multiple hubs and industries. Biotech in the Triangle. Fintech in Charlotte. Advanced manufacturing in the Triad. Marine and defense innovation on the Coast. Outdoor and climate tech in the Mountains.
This geographic and industry diversity creates a resilient, balanced startup ecosystem.
Rapidly Growing Innovation
North Carolina continues to rank among the fastest-growing states in the U.S., with cities consistently landing on “best places to live” lists.
New residents from major tech hubs are choosing North Carolina for its quality of life and cost structure bringing experience, ambition, and company-building energy with them.
Underserved by Venture
Founder growth has outpaced venture capital inflow.
That gap creates opportunity: lower competition, more reasonable valuations, and stronger ownership positions for early investors.
North Carolina offers strong fundamentals with less crowding, a rare combination.
NC regions include:
Mountains / Western NC
Includes the Blue Ridge Mountains and Hickory metro area.
Triangle
The core of RTP and its immediate suburban expansion.
Piedmont Triad
The central industrial and logistics hub.
Charlotte / Central Piedmont
The metropolitan area centered around the banking hub and Lake Norman.
Sandhills
The south-central region characterized by pine forests and military presence.
Wilmington & Coastal NC
The immediate coastline, beaches, and the Outer Banks.
Eastern NC (Emerging / Inner Coastal)
The historically agricultural and industrial "Inner Banks" and rural East.
NC Tweener List Virtuous Cycle
Interested in Investing in Tweeners?
The NC Tweener Fund is a 'rolling fund' that is always open to new accredited investors. The minimum investment is $30,000 (four investments of $7,500 per quarter). Each quarter we invest in 12-18 Tweeners and Pre-Tweeners. The goal of the fund is to act as an index fund for NC Tweener companies.
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