RNOX rolls out $10 million SLVR venture fund, plans Vegas expansion

by Kaleb Roedel

Since launching in April, Northern Nevada’s first tech accelerator has only known one speed: fast.

Despite the economic slowdown caused by COVID-19, Reno-based RNOX opened for business in the spring, kicked off its inaugural entrepreneurial program in the fall, and has already developed plans to expand in 2021.

All the while, RNOX is in the process of adding more efficiency to its operation, recently creating a new venture capital fund to the tune of $10 million, said Shaunt Sarkissian, RNOX executive chairman and co-founder.

The SLVR Fund — a nod to Nevada’s moniker as the Silver State — is focused on investing in the early-stage companies that go through RNOX’s 16-week R.E.A.L (Rapid Entrepreneurial Accelerated Launch) program, Sarkissian said. Startups are also eligible if they take RNOX’s consulting classes or have professional services done by the tech accelerator.

Previously, RNOX-accepted startups — which secure a $100,000 equity investment right off the bat — were set up to receive capital from a pool of third party investors.

Read entire story at NNBW: https://www.nnbw.com/news/rnox-rolls-out-10-million-slvr-venture-fund-plans-vegas-expansion