Chattanooga Renaissance Fund (CRF) invests in seed and early-stage companies primarily in Chattanooga and surrounding cities, such as Knoxville, Nashville and the north corner of Atlanta.
CRF sold its interest in the Nashville-based Inova Payroll for an undisclosed amount in 2017. Innova Payroll was one of CRF’s first angel funds and its second successful startup since the company was founded in 2010. CRF’s initial investments in local and regional startups totalled $3.1 million created by about 15 investors. As of 2017 about 10 percent of the initial investment has been returned from the sale of Inova, Quickcue (bought by OpenTable) and other businesses. CRF’s second seed capital fund was created in 2014 with $7.6 million.
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