Bottorff says TVA 'pause' on nukes is timely

Expressing confidence that nuclear remains a TVA power option going forward, Nashville-based Chairman Denny Bottorff said it's a good time for TVA to pause and review its plans. Bottorff is also founder of Council Ventures, the Nashville-based VC. The TFP has it.

TNInvestco: Bottorff says partners well-aligned

Speaking briefly with VNC this afternoon, Nashville-based Council & Enhanced Tennessee Fund Co-Founder Denny Bottorff, at left (co-founder also of Council Ventures) expressed confidence the TNInvestco program will, indeed, become a "model" for the nation, because it has extracted strengths from previous models (i.e., especially CAPCOs) and integrated them with novel features. Bottorff commended State officials for their innovativeness and management of the TNInvestco program and the associated competitive process, and said he and his partners with Enhanced felt their firms were from the outset well aligned with the TNInvestco goal of nourishing "transformational companies" that will contribute to the state's economy and to the well-being of Tennesseans. He added that while Council and Enhanced routinely work with companies and partners nationwide, the TNInvestco program will mean greater focus on Tennessee-headquartered companies. He said he and Katie Gambill will lead the new entity.

Council Ventures leads New Day round

Four-year-old New Day Pharmacy, based here, got a $10MM booster shot recently, when Nashville-based VC Council Ventures led a financing round. The item is here.

Tuke: TVA should 'empower' region

There's a slew of candidates' names in the wind for appointment to the board of the Tennessee Valley Authority. One candidate, Nashville attorney and Democrat stalwart Bob Tuke, told VNC this morning the job "does appeal to me." Why? Apart from the fact that in the wake of the infamous coal-ash spill and other problems that may suggest a need for tighter oversight of management, Tuke said he believes the TVA has a "wonderful legacy" and it's not just "a big utility," but an institution that has historically "empowered" the Tennessee Valley region it serves. TVA should "reclaim its legacy," he said. With Energy and Environment once again at the fore of U.S. policy-making, Tuke indicated he believes that while dealing with TVA's challenges, TVA should also move aggressively to realize the economic-development potential of Gov. Phil Bredesen's proposed Solar Institute, the R&D resources of Oak Ridge National Lab and other assets within the state. Other reported candidates for the TVA job (many others have reportedly inquired about the posts, without going public) include Nashville real-state investor and environmentalist John Noel (associated with Tennessee Conservation Voters, among other groups); former Tennessee Supreme Court Chief Justice A.A. Birch; Nashville attorney Will Martin (a founder and formerly an attorney with what is now the H3GM law firm, a longtime environmentalist and former Clinton Administration NOAA executive); State Rep. Mike McDonald (D-Portland); Chattanooga attorney Jim Hall, former head of the National Transportation Safety Board; MTSU Business Dean Barbara Haskew; and, among untold others, Dr. Stephen Smith, executive director of the Knoxville-based Southern Alliance for Clean Energy. Tuke said his candidacy was solicited by Democrat members of the state's congressional delegation. The Obama Administration has given no signals regarding when they will announce their decisions regarding a total four TVA board seats in question this spring, or who might get the nod. Nashvillian Denny Bottorff, longtime banking CEO, member of the Vanderbilt University Board of Trust and founder of Council Ventures, a VC, currently serves on the TVA board.

Council Ventures adds VC from Research Triangle

One of Nashville's worst-kept secrets has been Council Ventures' addition of healthcare IT and services specialist Grant Jackson as general partner. Jackson joins from a Research Triangle Park-area VC. The story's here.