Alabama Futures Fund Closes $25M Seed Stage Venture Capital Fund

Source: FinSMEs
Photo: Venture Capital

Birmingham, Ala.-based Alabama Futures Fund closed a $25m early-stage venture capital fund.

AFF will focus on companies that are headquartered in, or willing to relocate to, the State of Alabama working across a broad range of industries that exhibit the potential for high growth.

LPs in AFF include several prominent institutional and individual Alabama investors, including:

– Protective Life Insurance Company,
– HOAR Construction, LLC,
– Raymond J. Harbert,
– G. Ruffner Page, Jr.,
– Charles Barkley, and
– Benny M. LaRussa, Jr.

The investments will be managed by Redhawk Advisory – a registered Investment Advisor with offices in Birmingham – through its principles, Matt Hottle and Mickey Millsap. Portfolio companies will also benefit from the experience of the members of the AFF Advisory Board, who include:

– David M. Gray,
– Shannon P. Spotswood,
– Stanley L. Graves,
– Deontée D. Gordon and
– Owen Samuels.

http://www.finsmes.com/2018/09/alabama-futures-fund-closes-25m-seed-stage-venture-capital-fund