Print
Banking & Finance

Tidewater Equity Partners Opens Wilmington HQ

By Jenny Callison, posted May 9, 2017
An investment firm launched last September in Raleigh on Tuesday officially announced the opening of its headquarters in Wilmington.
 
Tidewater Equity Partners will focus on small company direct investment, health care-related venture capital and innovation consulting, said founder and managing partner Merrette Moore.
 
The entity is not a fund and does not operate under a traditional fund model, Moore added. Instead, it provides flexibility in allowing investors to participate on a deal-by-deal basis without any upfront commitment or long-term obligation.
 
“Our model is special in that it allows us to be hands on and bring in investors who can draw from their expertise to contribute to specific deals. Through this, we provide value-added management and expertise to our portfolio companies,” he said.
 
Moore, a longtime Raleigh resident, has been in the private equity and venture capital field for the past 20 years. When he and his wife decided to move to Wilmington, he structured his new firm to draw on the strengths of his contacts in the Triangle area while building a presence in Wilmington. The firm’s four-person staff and adviser group is still based in Raleigh, he said.
 
A recent addition to the adviser team is Wilmington resident Rich Lee, founder and former CEO of Hosted Solutions. Moore said Lee is “very familiar with the process of growing and exiting a closely held business, having led Hosted Solutions to one of the Triangle tech sector’s largest exits in 2010.”
 
Tidewater, whose office is at tekMountain, will use its network and expertise to foster innovation in southeastern North Carolina, according to a news release, which stated that the firm hopes to use its innovation consulting to promote economic development for local communities in this part of the state.
 
Tidewater particularly sees opportunities for innovation in health care, the release stated. Similar to its work with Rex Health Ventures in the Triangle, Tidewater is in discussions with New Hanover Regional Medical Center to “help the organization find synergies and potentially develop an innovation platform of its own,” the release stated.
 
Since its founding, Tidewater has raised $3.1 million in venture capital for Durham-based semiconductor company Phononic and $6.5 million in private equity to secure a controlling interest in South Atlantic Packaging, a contract packaging company in Winston-Salem.
 
For more about the company’s plans, pick up a copy of the May 19 issue of the Greater Wilmington Business Journal.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Carolinemontgomery4

Don't Procrastinate - How Waiting To File Your Taxes Can Hurt You

Caroline Montgomery - Adam Shay CPA, PLLC
Lyleheadshot2017 1251720228

The Key To Fundraising Success

JC Lyle - Wilmington Area Rebuilding Ministry
Dallas headshot 300x300

The 7 Cs Of Planning Success

Dallas Romanowski - Cornerstone Business Advisors

Trending News

Earth Fare Shares Layoff Numbers, Additional Closure Details

Cece Nunn - Feb 17, 2020

Dosher Hospital CEO Stepping Down

Cece Nunn - Feb 17, 2020

Office Opens At CFCC To Help Firms Gain Federal Contracts

Christina Haley O'Neal - Feb 17, 2020

In The Current Issue

NHRMC Issue Draws Outside Attention

While very much a local issue, what to do with New Hanover Regional Medical Center is gaining attention from the state level....


More Hotels On The Way

Hotel construction continues in hot spots around the Wilmington area, with plans and hopes for more to fill an increase in demand in recent...


Drawing On Leadership Skills

LS3P’s Laura Miller has had a hand in many projects over the course of her nearly 20- year career as an architect. But her passion for the i...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`