CRVP will focus on seed capital for startup and emerging technology and digital media companies in areas such as media, mobile apps, software, cloud computing, digital advertising and media, market technology and general Internet business. CRVP is being established with an initial investment from founding members of $5,000,000 and has also received more than $1,000,000 in founders’ subscriptions.
CRVP was co-founded by businessman and entrepreneur John Schneider, who is also the managing partner of Springboard Baton Rouge, an entrepreneurial business accelerator downtown, and Vision City Development Group, a real estate development firm. Vision City recently redeveloped the old Kress Building in downtown Baton Rouge and installed Springboard as a coworking space.
“A venture capital fund has always been a key component in the on-going evolution of the SpringboardBR and Vision City strategies,” said John Schneider, managing partner of both entities. “Now that the SpringboardBR accelerator program is a reality and the Kress and Hotel Indigo operations are in successful economic commerce, we are ready to capitalize on the positive goodwill generated and expand our vision on these dual fronts.”
SpringboardBR is also launching a startup accelerator program and today plans to announce the 4 companies selected to participate in its Fall 2012 Startup Accelerator Program.
CRVP certainly adds much needed capital to Baton Rouge’s burgeoning startup and tech ecosystem, which has seen big announcements lately that Ameritas Technologies is opening a 300 job tech center and PreSonus’ new research facility.