Next Frontier Capital Successfully Completes Inaugural Venture Capital Fundraising

With More than $21 Million Raised, the Leadership of Next Frontier Capital Continues to Focus on Investing in Companies with a Montana Heritage, Breakthrough Business Plans and Innovative Technologies
BOZEMAN, Mont. - June 2, 2016 - PRLog -- Today, Next Frontier Capital announced the successful final closing of its inaugural fund.

"With the announcement of this important milestone -- the final closing of Next Frontier Capital's $21,125,000 inaugural fund - we are well positioned to execute on our mission to help build Montana companies of impact, utility and value. The Fund's focus on investing in Montana technology and healthcare companies attracted investment from more than 70 Limited Partners drawn from many of the world's top technology, investment and venture capital firms," said Will Price and Richard Harjes, General Partners of Next Frontier Capital, in a joint statement released today.

Will and Richard bring experience and expertise in venture capital, investment management, and in starting and growing successful technology-driven companies. Next Frontier Capital seeks to lead or co-lead venture investments in Montana industries and expects to invest $200,000 to $1,500,000 in promising ventures. The Fund has made three Montana investments over the last year, in biotech, software and clean water technology - firms connected by traits of high intellectual property, capital efficiency and fast growth, addressing markets at a national and global scale.

"In Montana, we have a tradition of entrepreneurship, high university and commercial research activity and quality venture investment candidates," said Price and Harjes. "Yet, Montana is severely undercapitalized, oftentimes leaving opportunity for innovation, job creation and economic growth unrealized. At Next Frontier Capital, we understand this opportunity to serve as a trusted, local syndicate partner to non-Montana venture capital firms, while providing Montana entrepreneurs with company formation, growth expertise and accelerated access to talent, partners, and customers. This positions Next Frontier Capital to consider non-Montana investment candidates on a select basis, as well."

The leadership of Next Frontier Capital is proud to acknowledge the University of Montana Foundation for its leadership, vision and partnership in joining us as an investor in the Next Frontier Capital inaugural fund.

"The University of Montana Foundation is pleased to be able to make an investment in Next Frontier Capital. The investment provides further diversification of the foundation's long term investment portfolio, and offers an avenue to invest in Montana based industries."

Shane Giese, President and CEO, University of Montana Foundation

The Next Frontier Capital inaugural fund includes more than 75 individual and institutional investors, including some of the world's most experienced and sophisticated entrepreneurs and business management experts.

"Having known and worked with the leadership of Next Frontier Capital for more than 20 years, I jumped at the opportunity to invest in the venture fund. I strongly believe that great companies are being created all over the U.S. and particularly in the West. Having lived, worked and invested in Colorado for over a decade I've watched this growth first hand. Montana has all of the ingredients of a great entrepreneurial community and the NFC team are perfectly poised to help continue its growth."

Seth Levine, Foundry Group's Co-Founder and Managing Director

Prior to the milestone announced today, Next Frontier Capital made three investments as part of this inaugural fund since its inception in 2015:

SiteOne Therapeutics is developing novel therapeutics and diagnostics to safely, effectively and efficiently treat acute and chronic pain without the limitations of existing therapies, such as NSAIDs and opioids. SiteOne Therapeutics owns world-wide development and commercialization rights to its programs through an exclusive license from Stanford University. SiteOne Therapeutics is headquartered in Bozeman, Montana (

"Next Frontier Capital is forging new ground in Montana, providing access to Montana-based capital that has rarely, if ever, been an alternative to companies like SiteOne Therapeutics. Developing potentially breakthrough therapeutics that promise to help people in countries around the world can, should and is happening in the Big Sky State. With the Montana-based wisdom and resources of Next Frontier Capital, there is more promise than then ever for new healthcare and biopharmaceutical companies to locate in Montana."

Stan Abel, President and Chief Executive Officer of SiteOne Therapeutics

provides simple, powerful, affordable submission management solutions for any size publisher, school or organization. Submittable is a cloud-based online platform used by thousands of publishers and organizations in over 23 different countries. The company is headquartered in Missoula, Montana with offices in New York City (

"Thousands of people around the world at organizations large and small rely on Submittable for secure, simple and efficient management of their documents and submissions processes. Do they care that our heritage is in Montana? Maybe not. We do, of course. Being in Montana empowers us to recruit incredibly great employees and employ people whose lives are unique, fulfilling, and productive because we live in this special place. As we market throughout the United States and across the globe, knowing that we get to come home to Montana gives us a competitive advantage. Helping to fuel this advantage with the Montana-based venture capital of Next Frontier Capital is something we did not anticipate. It is a great partnership and we are eager to see what the future of the Fund holds for its shareholders and for the State of Montana."

Michael FitzGerald, co-founder and CEO of Submittable

is a leading provider of advanced, biologic-based, water treatment technology for municipal and industrial point source dischargers. The company's proprietary technology leverages algae's biological benefits in a carefully controlled and continuous flow environment that removes nitrogen, phosphorus and other harmful nutrients found in industrial water discharge and wastewater effluent. The technology delivers best-in-class water quality, a sustainable (non-chemical) approach to wastewater treatment and eliminates the need for costly sludge removal resulting in a competitive total cost of ownership. Clearas headquarters in Missoula, Montana (

"Our technology is helping to solve some of the seemingly impossible water treatment challenges across the globe. The fact that it was born and nurtured in Montana is a unique and important quality of our company, helping our customers and partners understand that true breakthroughs are often the result of people with different perspectives to help achieve previously unattainable results. We are proud to have Next Frontier Capital as a partner of Clearas, allowing us to keep some ownership of our company local as we work on a global basis to address the many water purification challenges on our planet."

Jordan Lind, Chief Executive Officer, Clearas


Will Price
Next Frontier Capital

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Tags:Venture Capital
Industry:Biotech, Financial, Software
Location:Bozeman - Montana - United States
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