While some in Nashville bemoan a lack of venture capital – especially in fields outside of the health care space – Franklin-based investment banking firmBrentwood Capital Advisors is confident investment money will start to flow in the region as the technology scene gains momentum.
To that end, the firm, which has traditionally focused much of its work on health care and health care IT companies, has added Cook Wylly as vice president to focus on a more diverse spectrum of technology companies.
Wylly, who comes to Brentwood Capital from Palo Alto investment firm Accel Partners, said part of his work in California involved scouting out regions ripe for investment as areas like California and the Northeast become saturated with technology businesses and existing venture capital.
Nashville seems to be following a pattern established by other newly formed hotspots, Wylly said – cultural buzz draws young entrepreneurs, who in turn build businesses that draw interest from investors.
Capital, Wylly said, “will follow the entrepreneurs,” adding that that sort of ecosystem “takes a long time to build.”
In a possible early sign of the progress Wylly noted, California venture services firm Crestlight Venture Productions announced plans earlier this week to open a partner office here in Nashville.