Birmingham, Alabama, April 17, 2024 – Birmingham-based venture capital firm First Avenue Ventures is pleased to launch a new multimillion-dollar fund. With commitments in excess of $2 million, the First Avenue Ventures Opportunity Fund will focus on seed and pre-seed funding for high-growth businesses. Geography- and industry-agnostic, the Fund will invest between $100,000 to $500,000 in early-stage, high-growth companies that have a compelling factor or factors suggesting that the underlying investment meets the hallmarks of a quality growth company.

“First Avenue’s mission is to empower the entrepreneurial ecosystem through catalyzing innovative businesses,” said Mike Goodrich, founder and Principal of First Avenue Ventures and fund manager. “The Opportunity Fund both deepens and widens this mission by financing and supporting early-stage companies, which will, in turn, benefit the entrepreneurial ecosystem.”

With the Opportunity Fund, First Avenue builds upon the success of the First Avenue Ventures Life Science Fund I. Launched in 2021, the multi-million-dollar Life Science Fund has made investments in nineteen portfolio companies, several of which have successfully raised subsequent rounds of financing.

Emma Bolden will serve as the Fund’s Director of Operations, leveraging her years of experience working with early-stage companies at First Avenue Ventures to identify promising investments and partner with portfolio company leadership teams to help them reach an inflection point.

“The Opportunity Fund allows our team to provide high-growth companies not only with capital but with the transparent support necessary to navigate the dynamics and difficulties of the early stages,” Bolden said. “I look forward to working with our portfolio companies to solve entrepreneurial problems and build a strong foundation for sustained growth.”

Disclaimer: First Avenue Ventures Opportunity Fund, LP, a Delaware limited partnership (the “Fund”) operates as a private investment vehicle. The Opportunity Fund is an industry-agnostic vehicle organized to capitalize on early-stage investment opportunities in and outside of Alabama. First Avenue Ventures Life Science Management, LLC, a Delaware Limited Liability Company, serves as the general partner (the “General Partner”) for the Fund. The office of the General Partner is located at 1 Independence Plaza, Suite 816, Birmingham, AL 35209 and the telephone number is 205.578.1005. Navigate Private Fund Advisors, LLC (the “Investment Manager”) is the Investment Manager for the Fund and is responsible for the formulation and implementation of the Funds’ investment strategy and makes all investment decisions for the Fund.

The Investment Manager is also located at 1 Independence Plaza, Suite 816, Birmingham, AL 35209.