Shelburne · Pre-Seed–Late Stage · 5 people tracked
Also known as ADDISONMANAGEMENT, INC.
Investment thesis
FreshTracks Capital invests in early-stage businesses with a core focus on Vermont and surrounding regions. The firm looks for companies with the potential to build defensible competitive advantages and backs proven, high-performing management teams. Through multiple rounds and growth stages, it provides capital along with expertise, networks and resources to support innovative businesses. Its investments are made through a family of early-stage venture capital funds.
Source: firm website, verified Aug 25, 2026.
Team · 5 people
from the firm's website & public directories
What they invest in
from 25 of 46 portfolio companiesAdvanced Manufacturing ×10Healthtech ×4SaaS ×4AI & Machine Learning ×3Circular Economy ×3Climate Tech ×3Consumer ×3Data & Infrastructure ×3
HQs:United States×27
Who they back
founder profiles across 15 portfolio companiesFounding team size:solo founder×92 founders×6
Investments · 46 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 22024 · 12023 · 32018 · 12017 · 12015 · 22014 · 112 dated
Advanced ManufacturingBurlington, US
Paul Budnitz(Founder)Nicholas Callaway(Founder)Jeremy Kent(Executive Officer, Director)
BoardThomas J. Whalen(Director)inCairn Cross(Director)in
Board seatCairn G. Cross· per SEC Form D · $600K raise · filed Apr 2015
DataBlend provides a data integration platform that connects financial ERP and corporate performance management applications via APIs, automating manual data movement and reporting for finance and accounting teams.
Data & InfrastructureFintechSaaSStowe, US
Ethan Carlson(Founder & Chief Product Officer)inLouis J. LaRocca(Director)David Furth(Executive Officer, Director, Promoter)in
BoardLee E. Bouyea(Director)
Board seatLee Bouyea· per SEC Form D
Co-investorsDudley FundBigfoot CapitalFreshTracks Green Mountain
Burlington, US
Skye Chalmers(Founder)inJohn Skye Chalmers(Executive Officer, Director)
BoardLee E. Bouyea(Director)in
Board seatLee Bouyea· per SEC Form D
Co-investorsSaaS CapitalAudeo Capital
HealthtechBurlington, US
Stanley Goldstein(Executive Officer, Director)Michael MacCaskey(Executive Officer)Benjamin Littenberg(Executive Officer, Director)Stanley M. Goldstein(Executive Officer, Director)
BoardHenry Tufo(Director)
Board seatLee Bouyea· per SEC Form D · $500K raise · filed May 2015
Aprexis offers a platform for medication therapy management (MTM) and customizable clinical programs covering lifestyle medicine and disease management, using AI-driven patient stratification, a patient-facing mobile app, and EHR interoperability.
Digital HealthHealthtechSaaSMontpelier, US
MICHAEL HOWE(Executive Officer)
BoardROBERT SQUIRE(Director)
PartnerLee Bouyea· led
Co-investorsCORI InnovationVermont Center for Emerging Technologies (VCET)
AskFora is a text-based platform that connects young professionals to discuss career challenges and team dynamics.
AI & Machine LearningFuture of WorkHR TechSaaSSocial
Co-investorsGlasswing VenturesKoa LabsPerkins Cove Partners
PartnerLee Bouyea· led
South Burlington, US
Michael Ryan McDevitt(Corporate Secretary Chief Technology Officer)Matthew Shea(Chief Product Officer)Wesley Grove(CEO President)Matthew McShea(Executive Officer)
BoardChristopher Timchak(Director)James H Crook, Jr.(Director)
PartnerLee Bouyea· led
Co-investorsCreative Destruction Lab (CDL)Kluz VenturesLaunchCapitalVermont Center for Emerging Technologies (VCET)FreshTracks Green Mountain
Advanced ManufacturingAshland, US
Frederick Lee Schilling(Executive Officer, Director)Benjamin Brown Ripple(Executive Officer, Director)Larry Burskin(Director)Deven Clemens(Director)Arthur Pergament(Director)G. Scott Greenburg(Executive Officer)
Co-investorsMirova
Caledonia Spirits produces distilled spirits made from local agricultural ingredients, with a stated focus on Vermont's farmland and terroir.
ConsumerFoodTech
Co-investorsDudley Fund
Connecticut manufacturer of cultured dairy and plant-based dairy alternatives, producing private label, co-packed and own-brand products.
Advanced ManufacturingNaugatuck, US
Thomas Moffitt(President/CEO/Director/Founder)Thomas Moffit(President/CEO/Director/Founder of Culture Fresh Foods, Inc.)Michael Franchina(Executive Officer)
BoardSoren Oberg(Director)Brett Lauer(Director)Dimitri Pappas(Director)
Co-investorsCEI Ventures
Consolidated cybersecurity platform designed for small and medium-sized organizations without dedicated security teams.
CybersecurityPortland, US
T. Andrew Rinaldi(Executive Officer, Director)Rob Simopoulos(Executive Officer, Director)
BoardNorman Mentz(Director)Joe Raczka(Director)Jerry King(Director)
PartnerLee Bouyea· led
Co-investorsCEI VenturesThe Alchemy Fund
Faraday is a customer context platform providing consumer and identity data on approximately 240 million U.S. adults, along with custom predictive machine learning models, delivered via API, MCP server, and batch deployment into a client's tech stack.
AI & Machine LearningData & InfrastructureMarketing TechBurlington, US
Co-investorsLaunchCapital
Faraday builds AI-powered software that predicts customer behavior for businesses, aiming to make customer experiences predictive.
AI & Machine LearningData & InfrastructureMarketing TechSaaSBurlington, US
Co-investorsVermont Center for Emerging Technologies (VCET)
Advanced ManufacturingBurlington, US
Adam Farmer(Executive Officer, Director, Promoter)William Hooker(Executive Officer)Thomas H Moody(Director)Henry Mulholland(Director)
BoardEvan Metropoulos(Director)Bryan Cairns(Director)
Co-investorsLRVHealth
Glavel produces foamed glass aggregate, a lightweight building material made from recycled glass that provides structural compressive strength, insulation, and drainage in a single product, replacing foam insulation, crushed stone, and lightweight fill.
Advanced ManufacturingCircular EconomyConstruction TechNew MaterialsBurlington, US
Robert Conboy(Executive Officer)
Richmond, US
Benjamin Kinnaman(Executive Officer, Director)
BoardJohn A Kane(Director)John Broadmeadow(Director)Michele Asch(Director)James H Crook, Jr.(Director)
PartnerLee Bouyea· led
Advanced ManufacturingWeybridge, US
Adam Polonski(Director)Nora Ganley-Roper(Executive Officer, Director)
BoardMark Bathgate(Director)Jeff Quint(Director)Thomas J. Whalen(Director)in
Co-investorsDudley FundVermont Center for Emerging Technologies (VCET)
Mamava designs, engineers, and manufactures freestanding lactation pods for workplaces and public spaces, along with breastfeeding resources for employers and organizations and a free app that helps parents locate lactation spaces.
Advanced ManufacturingEnterprise SoftwareFemTechHardwareHealthtechWellness & FitnessBurlington, US
Christine Dodson(Co-founder & CEO)Sascha Mayer(Co-founder)Brian Werneke(Director)Michael Jager(Director)
BoardCairn Cross(Director)in
Co-investorsVermont Center for Emerging Technologies (VCET)FreshTracks Green Mountain
Murphy's Naturals makes natural insect-repellent and outdoor products designed to help people enjoy time outside without bug bites.
ConsumerDirect to ConsumerImpact & Social GoodWellness & FitnessRaleigh, US
Philip Freeman(Founder)Tanya Rhone(Director)Scott Ajac(Director)Jason Starr(Director)Laura Markley(Director)John Replogle(Director)
Co-investorsECP GrowthPoint King Capital
Native Energy helps organizations activate climate solutions and manage residual carbon emissions through validated climate action projects.
Climate TechEnergyImpact & Social GoodBurlington, US
Steven Massicotte(Director)Thomas C Stoddard(Executive Officer, Director)Jeffery W Bernicke(Executive Officer, Director)Robert Gough(Director)D. Chandler Jones(Director)Cairn Cross(Director)
Co-investorsCEI Ventures
PartnerLee Bouyea· led
Ogee is a Vermont-based clean beauty brand selling certified-organic, jojoba-oil-based makeup and skincare.
Advanced ManufacturingBurlington, US
Abbott Stark(Executive Officer, Director)Alex Stark(Executive Officer, Director)Mark Rice(Executive Officer, Director)
Co-investorsCEI Ventures
Resonant Link Medical develops wireless power and data transfer technology for implantable medical devices, enabling smaller, rechargeable, or battery-free implants.
HardwareHealthtechMedical DevicesSouth Burlington, US
Omari Bouknight(Executive Officer, Director)
BoardJeffrey Chu(Director)
PartnerLee Bouyea· led
Co-investorsACADEMY INVESTORAIN VenturesKaleida CapitalScout VenturesScout VenturesVermont Center for Emerging Technologies (VCET)
Venice, US
Todd Smith(Executive Officer, Director)Justin Gelinas(Executive Officer, Director)
PartnerLee Bouyea· led
Verde Technologies develops ultra-thin, flexible perovskite solar cells using roll-to-roll manufacturing, offering high power-to-mass and radiation tolerance for space and defense power applications, with future terrestrial uses.
CleantechNew MaterialsSpace TechBurlington, US
Chad Miller(Co-founder & CTO)Richards Miller(President; Chief Executive Officer; Secretary; Director)Jean-Noël Poirier(CEO)Randall Headrick(Director)Skylar Bagdon(Director)
BoardSteve Bolze(Director)
Co-investorsThe Alchemy FundVermont Center for Emerging Technologies (VCET)
Vermont Nut Free makes hand-made gourmet chocolates and confections produced free of nuts for people with nut allergies.
ConsumerDirect to ConsumerFoodTechGrand Isle, US
ZymoChem develops bio-based materials using proprietary Carbon Conserving (C2) microbes that convert renewable feedstocks into high-value materials with increased yields.
BiotechCircular EconomyClimate TechNew MaterialsSan Leandro, US
Harshal Chokhawala(Founder & CEO)
Co-investorsAccelr8Breakout LabsBreakout VenturesCavallo VenturesDudley FundPrime Partners+7 more
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Portfolio news
latest coverage across their companiesFarmer Companies · pulse2.com · Aug 2, 2026
Mamava · femtechinsider.com · Apr 7, 2026
Lost Lantern · fredminnick.com · Feb 16, 2026
Big Tree Farms · nosh.com · Jan 19, 2026
Frequently asked questions
- How many investments has FreshTracks Capital made?
- FreshTracks Capital has 43 tracked investments, including 3 dated in the last 24 months.
- What stage does FreshTracks Capital invest at?
- FreshTracks Capital invests at the Pre-Seed, Seed, Series A, Series B, Series C, Late Stage stages.
- What is FreshTracks Capital's typical check size?
- FreshTracks Capital typically writes checks of $600K – $2M.
- What sectors does FreshTracks Capital focus on?
- FreshTracks Capital focuses on Advanced Manufacturing, Cleantech, Consumer, Energy, Healthtech, Sector Agnostic, Wellness & Fitness.
- Where is FreshTracks Capital located?
- FreshTracks Capital is headquartered in Shelburne, US.
- Does FreshTracks Capital lead rounds?
- Yes, FreshTracks Capital leads investment rounds.
- Who does FreshTracks Capital co-invest with?
- FreshTracks Capital most often shares deals with Vermont Center for Emerging Technologies (VCET), CEI Ventures, Dudley Fund, among 23 tracked co-investors.
Images
Co-investors · 7
Techstars is a startup accelerator and early-stage investor that funds ambitious founders and provides capital, mentorship, and access to a global network of investors, operators, and corporate partners.
FJ Labs is an early-stage investment firm specializing in marketplaces and network-effect businesses, taking an angel-style co-investment approach alongside institutional venture funds worldwide.
BoxGroup is an early-stage venture capital firm that invests in startups at their earliest stages.
Lerer Hippeau is an early-stage venture capital firm that backs founders across sectors, emphasizing investing in companies before they gain wider recognition.
Outlander VC is an early-stage venture firm that has spent two decades backing founders, focusing on the founder's vision, character, and execution to identify and fund future unicorns before revenue or product.
Point72 Ventures is a venture capital firm that backs founders across sectors, providing insight, industry expertise, and network support. Since 2016 it has invested in more than 130 companies.
Elephant is a venture capital firm that invests in fast-growing, capital-efficient technology companies.
Firms observed investing alongside FreshTracks Capital, from public investor directories. Shared companies are the overlap with FreshTracks Capital's recorded portfolio.
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