CIO Eller Kelliher

TENNESSEE Technology Development Corporation (TTDC) dba Launch Tennessee -- grappling with deployment and management of inherently challenging programs -- has in recent months brought its capital-management staff to full strength, Chief Investment Officer Eller Kelliher confirmed today.

With its investment requirements and opportunities sharply expanded in recent years by programs with very high performance expectations -- including Tennessee's $117MM+ equity and credit allotment via the federal State Small Business Credit Initiative (SSBCI 2.0) -- LaunchTN and its capital staff have been challenged to keep up, at times.

Nonprofit 501c3 LaunchTN was in capital-associate recruitment mode for much of 2024.

In fall 2024, Khrystopher Hatch, whom we believe was LaunchTN's first staff member with priority-focus on capital formation and investments, departed in order to go full-time on his W-51 event and music production business.

LaunchTN had been in search mode well before Hatch's actual departure. At least one recruitment notice for the capital team was posted at least a year ago.

Also in 2024, LaunchTN management learned that current Capital Associate Isaiah "Ziggy" Allenlundy will depart early this year, relocating to Birmingham.

Last September, LaunchTN added Avery McConkey MBA as a capital associate.

McConkey's previous business experience was in retailing, as well as internships with finance- or investment-related roles. He holds bachelor's (2023) and MBA (2024) degrees in business administration from Belmont University.

Lasawni Reynolds

Then, last October, LaunchTN hired Lasawni Reynolds as senior capital associate, reporting to Kelliher.

Indianapolis-reared and Jamaica-born Reynolds has navigated an array of relevant career opportunities during the nearly seven years since his graduation from Purdue University's Daniels School of Business, where he earned a bachelor of science degree in finance and management information systems.

His prior career included management consultant and other roles with Houston-based Accenture, and investment associate duties with Atento Capital (Tulsa), among other jobs.

Reynolds has also served as operations manager for Rely Capital, which says it is an Angel List Syndicate facilitating investment in businesses of underrepresented founders.

Updated: Late this afternoon, Kelliher responded to our description of the inherent challenges of managing SSBCI and other investment programs, providing these comments:

You're absolutely correct that we took a bit of time in recruiting for and filling the open roles on our Capital team. This was intentional to map out the skills and experience we were looking for and then find the right fits for these positions.

That said, even throughout these relatively brief moments of staffing transition, LaunchTN still kept pace deploying capital and making investments in dynamic and promising startups across the state. In fact, in calendar year 2024, we deployed $10.6M directly to 31 individual companies and committed an additional $6M to two venture funds.

To put it plainly, we haven't been challenged in keeping up with investments nor have we been "grappling" with the deployment of funds.[end]

LaunchTN is led by CEO Lindsey Cox. LaunchTN operates as a nonprofit partner and de facto subsidiary of Tennessee Economic and Community Development (TN ECD), which is led by Commissioner Stuart McWhorter, who, in addition to serving as manager of Gov. Lee's campaign for office, previously had a lengthy career in venture capital.

Kelliher's prior career includes serving as managing director of healthcare-centric Jumpstart Foundry, in Nashville, among other stops.

LaunchTN's website currently shows no job openings. However, its website notes, "We're always looking for new talent and friendly faces, so if you don't see a current opening, but would still like to work with us, reach out today." A contact link is provided.

Or, if networking, try LaunchTN's StartupTennessee events page or this month's VNC calendar. VNC

.last edited 1626 8 January 2025