Gambill on growthco's

Council Capital co-founder Katie Gambill (at left) alerts us to the needs of growth companies in Tennessee. Read about it here.

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 says NotifyMD exit profitable

Council Ventures announced today that its previously announced exit from Franklin-based NotifyMD was a cash deal and profitable, providing a "good return for our fund," according to General Partner Katie Gambill (at left). She told VNC the exit was the seventh from the 10-company portfolio of Council's first fund. She said that through its second fund, Council has thus far invested in two companies, the identities of which have not been disclosed. Since 1986, NotifyMD has provided call management services to physician group practices, hospitals, and integrated health systems. Coleman Swenson Booth and Jefferson Capital remain as investors in NotifyMD, following the recapitalization, with members of the management team. Noteworthy: Council's release about its profitable exit was disseminated by Jane Morris, co-founder of the Natick, Mass.-based Veritage Group, which is supporting Council Ventures' latest fund raise. Also as previously signalled, former NotifyMD CEO Gary Ferguson was succeeded by former COO John McDevitt, coincident with the recap and Council exit. Gambill previously served on the NotifyMD 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.