FreshTracks Capital

FreshTracks Capital is an early-stage venture capital firm headquartered in Shelburne, Vermont. Established in 1999, the firm primarily focuses its investments on promising companies located within Vermont and the broader surrounding region. FreshTracks seeks out businesses with robust management teams, scalable business models, and a clear trajectory towards market leadership. They are known for leading or co-leading investment rounds and are flexible in their investment structures, utilizing both equity and convertible debt.

The firm has a consistent history of fundraising, managing five distinct funds. Their total capital raised across these funds amounts to $90 million. The most recent vehicle, FreshTracks Capital V, closed in 2022 with $20 million in commitments, mirroring the size of their preceding three funds, FreshTracks Capital II, III, and IV. This stable fund size underscores a focused and disciplined approach to their investment strategy.

FreshTracks Capital has built a significant portfolio, having made over 40 investments in a diverse range of industries, including software, consumer products, healthcare, and advanced manufacturing. The firm has also demonstrated its ability to generate returns for its limited partners, achieving 10 successful exits from its portfolio companies. For initial investments, FreshTracks Capital typically deploys checks ranging from $500,000 to $2 million, while also reserving capital for subsequent follow-on rounds to support their portfolio companies' growth. Their strong regional focus allows for close engagement and leveraging of local ecosystems to foster success.