Battle Born Venture

What is Battle Born Venture?

Battle Born Venture is Nevada's state venture capital program, established in 2013 with the objective to support local entrepreneurs in their fundraising efforts and promote economic development within the state. As an investor, they focus on high potential startups that are based in Nevada, requiring these startups to hold a Nevada business license and a Nevada business address. Their investment mandate stipulates participation in financing rounds that range from $200,000 to $20 million in total size, with the ability to invest up to half of a round's total amount.

The cap for investment in any single company is $1 million over time, with no more than $500,000 deployed in the first funding round they participate in. Battle Born Venture emphasizes the use of equity and equity-like instruments, such as convertible and SAFE notes, while strictly avoiding leading the investment rounds.

They prefer co-investing alongside professional investors including other venture capital firms, corporate venture capital arms, and incorporated angel funds. They have a broad sector focus but exclude investments in industries like gambling, alcohol, cannabis, firearms, real estate, investment firms, and lenders.

Additionally, their investment thesis allows for some flexibility as they also consider startups spun out of Nevada's research universities, those affiliated with projects supported by the Knowledge Fund, and deep technology companies with active SBIR/STTR contracts. Their process involves an initial evaluation to ensure alignment with their mandate and encourages potential investees to take an 'are we a fit?' quiz before applying. Battle Born Venture has a track record of success, having celebrated five exits in tandem with their co-investment partners.

They are funded through the State Small Business Credit Initiative (SSBCI), with their mandate determined by the US Treasury approved state SSBCI application. The firm is committed to fostering the growth of Nevada's entrepreneurial ecosystem and helping startups achieve their goals while contributing to the broader economic landscape of Nevada.