Second round of FundNV will lead to $2-plus million invested in Nevada startups

LAS VEGAS (Dec. 4, 2024) – FundNV, a for-profit pre-seed venture capital fund based in Las Vegas, has launched its second round of investments that will ultimately invest $2 million in scalable, early revenue Nevada-based startups.

In this second round of investments, FundNV will invest $100,000 per startup in at least 20 Nevada companies over the next 32 to 48 months (3 to 5 companies per year). These investment amounts are double those of the first round of FundNV that began in 2020 and funded 19 companies over 4 years.

Like the first round, the current round of FundNV investments will be matched 1:1 by the State of Nevada’s State Small Business Credit Initiative (SSBCI) program, leading to a total of $4 million being invested in the state’s startup economy.

The increase in funding is not the only unique attribute to the second round of the intrastate FundNV. Organized under the first in the nation “Nevada Certified Investor” law that was created by passage of AB75 in 2023 to qualify and enable more people to invest in startups, FundNV will allow investors to participate at lower minimum investment levels.

FundNV’s investment committee meets six times a year to review eligible companies, hear company pitches, and make investment offers. All companies receiving a FundNV investment must participate in the affiliated non-profit, grant-funded StartUpNV accelerator program to ensure optimal performance and provide access to resources, education, and mentorship.

FundNV is led its founder Jeff Saling and two Las Vegas businesswomen, Vicki Zhou and Kristin Tomasik, who both have a distinguished track record of supporting high-growth startups in Las Vegas.

A Las Vegas native, Tomasik graduated from the University of Nevada – Las Vegas (UNLV) with a degree in computer science and has since driven innovation in fintech and cybersecurity companies. Today, as a general partner at FundNV, Tomasik is leveraging this extensive experience and entrepreneurial success to invest in and nurture Nevada's burgeoning tech ecosystem, helping transform Las Vegas into a thriving hub of innovation.

Also born and raised in Las Vegas, Zhou is an experienced tech founder and operator. Previously, she co-founded WiseBanyan, a roboadvisor that both Vegas Tech Fund and Battleborn Ventures had invested in before it was acquired by Axos (NYSE: AX). She has also served in executive roles in product, strategy, and operations at various high-growth early stage fintech, SAAS, and medical device companies.

“With many founders and companies fleeing high-cost centers in California and elsewhere, Nevada is primed to grow a thriving and diverse entrepreneurial economy,” said Tomasik. “FundNV is central to this growth by raising the necessary venture capital to support early-stage companies and broaden the pool of investors in Nevada thanks to the Nevada Certified Investor reforms.”

“We believe that FundNV’s investment thesis, stellar deal flow, and our partnership's ability to pick and support the strongest operators will continue its strong track record and produce a competitive return for our investors over time,” added Zhou. “Additionally, FundNV provides an opportunity to help develop a sustainable startup ecosystem in Nevada that historically has been neglected by the venture industry. We want to attract scalable startup businesses and founders with big ideas to Nevada and build a more resilient state economy as a result.”

Learn more about FundNV at https://fundnv.com and via the informational podcast, “How to 10X Your Money: Inside Nevada's Investment Fund That's Beating Silicon Valley: FundNV.”

About FundNV

FundNV raises money for early-stage capital investment in scalable Nevada startups that have participated in the StartUpNV accelerator program. The first round of FundNV funding occurred in 2020-2023 with $1 million raised and invested in 12 Nevada-based companies. FundNV’s second round of capital fundraising and investment began in late 2024 and will raise $2 million for investment in at least 20 Nevada companies over 24 to 36 months. All FundNV capital is matched by the State of Nevada’s State Small Business Credit Initiative (SSBCI). The current second round of FundNV adheres to the new Nevada Certified Investor law, allowing more investors to participate at lower investment levels. For more information visit: https://fundnv.com/.