Hickory Venture Group
Hickory Venture Group seeks to back strong management teams imbued with entrepreneurial enthusiasm and the vision to build a highly successful company.
They do not seek operating control and often take minority equity stakes. They believe that the market potential must be large enough to allow the company to reach $50-$100 million or more in value over the next 5-7 years.
But experienced management teams are not enough. The business model must work and the company plan should make sense. Does a market exist, or will it? Is there a compelling need for the product or service? What are the competitive dynamics? They seek to fund companies in large markets, rapidly growing markets, or in niche markets which are not targeted by major players.
Hickory Venture Group invests in a mix of early and later stage companies, or companies ranging from an idea and a founder/partial management team to companies with revenue, profits, a complete team and the need for expansion capital or change of control. Hickory also provides mezzanine capital.
They typically invest $1-3 million initially and can invest up to $7 million over the life of the investment. Since they often co-invest, the total funds invested initially often reach between $5 to $10 million or more.