Tallwave Capital has announced that the company has hired Nathan Mortensen as a Principal to source potential companies, conduct due diligence, provide investment recommendations and oversee day-to-day operations of its $13.15 million Tallwave Commercialization Fund I. Closed in October 2014, the fund is concentrating on early-stage software, marketing, advertising and technology companies across a variety of verticals and platforms in the U.S. with a focus on Arizona.
“We are extremely pleased that Nate is returning to his roots in Arizona after establishing strong capital connections in the flourishing entrepreneurial ecosystem in Salt Lake City,” said Allan Kaplan, Tallwave Commercialization Fund I Investment Committee member and managing partner of KG Investments. “His skills and experience are ideal for helping us to identify great companies and entrepreneurs that are looking to solve real problems in the marketplace.”
The fund seeks to make investments of $150K – $400K in early-stage differentiated consumer and enterprise focused businesses in strategic industry verticals. Tallwave Capital is also looking to expand its network nationally and is open to co-investment opportunities with quality partners.
“The innovation ecosystem in Arizona is in a rapid growth period and I’m excited to be leveraging my experience and network to help support it,” said Mortensen. “Having 85 percent of our fund come from Arizona investors is a huge testament to the momentum that is building and we are very optimistic about the future.”