Rick Brimacomb, who has worked as a venture capitalist, in private equity and, since 2005, for his own emerging-business consultancy, has started a small fund of his own and expects to invest $50,000-to- $150,000 apiece in inaugural investments up to 10 companies over the next three years.
The lead investor in Brimacomb Capital is Highland Bancshares.
“This just formalizes what I’ve been doing for several years,” said Brimacomb. “My investors and network allow for my portfolio companies to access more money than I have in Brimacomb Capital. Given my background, I can help companies understand and access the spectrum of capital markets."
Brimacomb, 53, who earned B.S. and MBA degrees from the University of Minnesota, has worked at Norwest Venture Partners, Smaby Group and Sherpa Partners, before his Brimacomb & Associates.
He had a hand in growing and selling companies such as Provation Medical for $100 million-plus, and Xiotech, which was sold to Seagate in the late 1990s for about $360 million. There were some smaller successes, as well. And a few that didn’t work out. That’s the investment business.
In recent years, he’s advised Sentera, the fast-growing agricultural drone company developed by engineers who created some of the first drones for the military.
Sentera raised $8.5 million in 2016 and is expected to announce an expansion this summer.