Nevada's 1864 Fund fully deploys $10M seed fund across eight startups
What's the deal? The 1864 FundDealroom has a profile for this one. Try Dealroom →, a Nevada-based seed-stage venture capital fund, has raised and invested its full $10 million across eight companies. Managed by Granite Partners and affiliated with economic development group StartUpNVDealroom has a profile for this one. Try Dealroom →, the fund backs scalable startups with at least $500,000 in annual sales.
The specifics: Its first check — $500,000 — went to LucihubDealroom has a profile for this one. Try Dealroom →, a Las Vegas video production platform. In 2026 the fund added VariablDealroom has a profile for this one. Try Dealroom →, Tilt AI, Dimension Studios, Voltaire, Armentus, TensorWave, and BuildQ.
Six of the eight companies are based in Nevada, and one plans to relocate to the state before its next round.
Who's behind it? The 1864 Fund is Nevada's first seed fund built specifically for accredited investors putting in $50,000 or more. Granite Partners' four managing partners include StartUpNV executive director Jeff SalingDealroom has a profile for this one. Try Dealroom → and TensorWave co-founder Piotr TomasikDealroom has a profile for this one. Try Dealroom →, with seven exits between them.
What's the endgame? The fund targets startups outside traditional venture hubs. Companies need not be from Nevada but must be US-based and are typically west of the Mississippi, outside California, Washington, or New York.
Startups with heavy upfront capital needs, long lead times, crypto models, or a consumer packaged goods focus fall outside its thesis.
Why it matters: "There are many companies in Nevada and the American West that have proven themselves viable, are ready to scale, and need seed-stage investment," Saling said. "The 1864 Fund seeks to be a venture capital leader for these companies that aren't located in the typical enclaves like Silicon Valley or Seattle."
By the numbers: Since 2021, Granite Partners has invested more than $35 million across 40-plus investments in nearly three dozen startups. Its managed funds and syndicate investments are worth about $100 million as of the second quarter of 2026, backed by more than 500 high-net-worth investors.
The firm has formal partnerships with StartUpNV and Nevada's Battle Born VentureDealroom has a profile for this one. Try Dealroom → program, part of the federal State Small Business Credit Initiative, which matches its Nevada investments 1:1.
The signal: Regional funds continue to build venture infrastructure outside the coastal hubs. Since 2021, seven other funds and multiple angel groups have followed Granite Partners' lead, adding more than $400 million to portfolio companies — a sign that capital is finding scaleups in overlooked markets.
Read more: CustomerThink
Image credit: Dougtone
