Fundraising FoxTCP Venture Capital
Venture capitalBaltimore · Pre-Seed–Late Stage · 11 people tracked
Also known as PROPEL MANAGEMENT, LLC
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Investment thesis
TCP believes the undercapitalization of post-seed companies in Baltimore City is an attractive investment opportunity, driven by the region's concentration of talent in edtech, healthcare, and cybersecurity, technologies emerging from research universities and federal labs, and state funding resources that de-risk commercialization. Through its Propel Baltimore Fund, TCP backs high-growth, scalable, capital-efficient technology companies located in or committed to Baltimore City. It invests in early-revenue companies typically via convertible debt or preferred stock, acting as an active minority investor that leads or co-invests and usually takes a board observer seat, while excluding biotech, medical device, and real estate.
Source: firm website, verified Sep 29, 2026.
Team · 11 people
from the firm's website & public directories
What they invest in
from 24 of 33 portfolio companiesAI & Machine Learning ×10Healthtech ×9Digital Health ×8SaaS ×7Enterprise Software ×6Advanced Manufacturing ×4Data & Infrastructure ×4Cybersecurity ×3
HQs:United States×22
Who they back
founder profiles across 21 portfolio companiesFounding team size:solo founder×132 founders×73 founders×1
Where their founders studiedfrom 18 founders with education data
The Johns Hopkins University - Carey Business School ×2University of Cambridge ×2
What their founders studiedfrom 21 founders with field-of-study data
Computer Science ×6Engineering ×4Life Sciences ×4Economics ×3Finance & Accounting ×3Business & Management ×2
3 founders hold a PhD · 3 hold an MBA (of 20 with degree data)
Investments · 33 tracked
founders shown can be your intro pathBy year:2021 · 22020 · 12018 · 22016 · 12015 · 28 dated
Cerebro Capital provides a technology-enabled platform for commercial lending that connects businesses with lenders to simplify and accelerate the business loan process.
B2B MarketplacesEnterprise SoftwareFintechSaaSBaltimore, US
Matthew Bjonerud(Founder & CEO)inKevin Dieter(Executive Officer)
BoardJames McGuire(Director)Douglas Becker(Director)Steve Reale(Director)in
Co-investorsFINTOP CapitalInner Loop CapitalMaryland TEDCOTEDCOUlu VenturesJAM FINTOP
EcoMap builds a software platform that provides connective infrastructure for entrepreneurial ecosystems, helping regional economic development organizations, state agencies, and business support organizations make their programs discoverable and interconnected for small business owners.
AI & Machine LearningData & InfrastructureGovTechImpact & Social GoodMarketing TechSaaSWilmington, US
Pava LaPere(Founder)Sherrod Davis(CEO)inSMITHA GOPAL(Executive Officer, Director)in
BoardNATHANIEL VASEL(Director)inTIMOTHY MCLOUGHLIN(Director)inERICA DROHAN(Director)
Co-investorsLas Olas Venture CapitalMaryland TEDCOTechstarsTEDCOCofounders CapitalLas Olas VC
Scene Health (formerly emocha) offers a medication adherence platform called MedEngagement that uses asynchronous video Directly Observed Therapy (DOT) and a care team to help patients take medications correctly for chronic and infectious conditions.
BiotechDigital HealthHealthtechBaltimore, US
Sebastian Seiguer(Executive Officer, Director)inVincent Crowe(Executive Officer)inJeff Daley(Executive Officer)inRobert Bollinger(Director)
BoardThomas Carroll(Director)Theresa Sexton(Director)in
Co-investorsClaritas CapitalJumpStart New Jersey Angel NetworkSand Hill Angels
Impruvon provides medication management software with smart reminders, alerts, and guided administration workflows for healthcare settings.
Digital HealthEnterprise SoftwareHealthtech
Justin Amoyal(Founder)in
Co-investorsMaryland TEDCOTEDCOUniversity System of Maryland Momentum Fund
Indicio is a technology company focused on decentralized identity and verifiable credential solutions, offering products and services built on distributed ledger and network infrastructure.
AI & Machine LearningCybersecurityData & InfrastructureDeep TechEnterprise SoftwareFintechGovTechSeattle, US
Frances Donegan-Ryan(Founder)inHeather C. Dahl(Chief Executive Officer)inKen Ebert(Chief Technical Officer)inHelen Garneau(Chief Marketing Officer)inRichard Samuelson(Chief Financial Officer)Scott Harris(Chief Operations Officer)in
Co-investorsBlack Mountain Investment Group37 AngelsK Street CapitalSwan Venture FundAlliance of AngelsHard Yaka
Infinity Bio provides immune system analysis through its proprietary MIPSA antibody reactome profiling platform, which identifies the targets of individual immune responses against human viruses, human proteins (autoimmunity), and allergen proteins.
BiotechDeep TechHealthtechBaltimore, US
Benjamin Larman(Executive Officer, Director)inJoy M Nassif(Executive Officer, Director)in
BoardMatthew Hellauer(Director)Herman Scholtz(Director)inCaroline Popper(Director)in
Co-investorsIllumina VenturesPTX Capital
InsightinHealth offers inGAGE, an AI-driven digital health platform that integrates structured and unstructured data to generate real-time predictions and personalized member engagement.
AI & Machine LearningDigital HealthHealthtechBaltimore, US
Enam Noor(Chief Executive Officer)inMarcia Kepler-Noor(President and Secretary)Steve Lefar(Director)Scott Sanner(Director)Zachary Giegel(Director)
BoardBinoy Bhansali(Director)
Co-investorsBlue Venture FundsHealth Catalyst CapitalMaryland TEDCOTEDCOAARP
Link Labs builds IoT-based real-time location and asset-tracking systems that provide indoor and outdoor visibility of equipment, inventory, and personnel for manufacturing and logistics operations.
Advanced ManufacturingIoTLogistics & Supply ChainAnnapolis, US
Robert B. Proctor(Executive Officer, Director)Brian E. Ray(Executive Officer, Director)in
BoardChristopher G. College(Director)in
Co-investorsStoneMill VenturesBlu Venture Investors
Minnowtech develops precision aquaculture technology using integrated sensor-based systems to help aquafarmers assess and maximize their cultivation efforts.
AgTechFoodTechHardwareIoTBaltimore, US
Suzan Shahrestani(Co-Founder & CSO)inKelli Booth(Co-Founder & CEO)inKen Malone(Co-Founder)inQuynh Vo(Chief Technology Officer)in
Co-investorsMaryland TEDCOTEDCOUniversity System of Maryland Momentum Fund
Evergreen Enterprises is a founder-led wholesale and retail supplier of home and garden décor and accessories, including garden flags, wind spinners, bird feeders, mailbox covers, and outdoor furniture.
Advanced ManufacturingB2B MarketplacesConsumerE-commerceRetail TechRichmond, US
Pixee automates the remediation of software vulnerabilities detected by security scanners, enabling enterprises to resolve security issues at scale rather than manually triaging them.
AI & Machine LearningCybersecurityDeveloper ToolsEnterprise Software
Arshan DabirsiaghiinSurag Patelin
Co-investorsDecibel PartnersWingTEDCO
Pixelligent develops nanocrystal materials that enhance optical performance in photonics, augmented reality, displays, sensors, and optical systems.
Advanced ManufacturingDeep TechHardwareNew MaterialsBaltimore, US
Craig Bandes(President & CEO)Tom Werthan(Executive Officer)inCraig Mintz(Executive Officer)inSerpil Gonen Williams(Chief Technology Officer)inGregory Cooper(Executive Officer, Director)in
BoardPeter Kirlin(Director)
Bluesight (formerly Protenus) provides AI-powered software for hospital pharmacy and compliance teams, covering RFID inventory tracking, drug diversion surveillance, purchasing optimization, 340B compliance, drug shortage management, and patient privacy monitoring.
AI & Machine LearningDigital HealthEnterprise SoftwareHealthtechBaltimore, US
Nicholas Culbertson(Executive Officer, Director)Harry Totonis(Director)Michele Kang(Director)
BoardRobert Lord(Executive Officer, Director)in
Co-investorsF-Prime CapitalKaiser Permanente VenturesKube VCLionBirdMemorialCare Innovation FundTRANSFORMATION CAPITAL+1 more
Qualytics provides a data quality platform that uses AI and machine learning to help enterprises proactively detect and manage data quality issues at scale.
AI & Machine LearningData & InfrastructureEnterprise SoftwareMaryland, US
Gorkem Sevinc(CEO)inEric(Co-founder)inNicole(Chief Marketing Officer)inTonni(Chief Sales Officer)in
Co-investorsBMW i VenturesConductive VenturesInner Loop CapitalKnoll VenturesLegalTechTech Square Ventures+1 more
Real Time offers an Interventional Analytics platform that ingests EHR data to help post-acute care facilities collaborate with partner hospitals, health systems, ACOs, and managed care plans.
AI & Machine LearningDigital HealthHealthtechLinthicum Heights, US
Scott M Rifkin, M.D.(Executive Officer, Director)Marc Zimmet(Director)Gary Duty(Director)Joan P Neuscheler(Executive Officer, Director)Thomas Dickerson(Director)Stuart Shapiro(Director)
Insider-threat behavioral analytics platform for information security; acquired by Forcepoint.
Co-investorsScout VenturesCP Ventures
Rocket Doctor develops technology-enabled healthcare solutions that connect patients with physicians through accessible and efficient care delivery platforms.
AI & Machine LearningDigital HealthHealthtech
Dr. William Cherniak(Founder and CEO)Harry Cherniak(Co-Founder, COO & Privacy Officer)
Co-investorsArchangel Network of Fundsf7 VenturesMoxxie VenturesSymphonic Capital
Scene provides digital medication adherence programs combining video check-ins and human engagement by nurses and pharmacists to improve patient adherence and health outcomes across health systems and care organizations.
Digital HealthHealthtechMedical DevicesSaaSBaltimore, US
Sebastian Seiguer(Entrepreneur & Founder)inMorad Elmi
Co-investorsKapor CapitalABS Capital PartnersBold Capital PartnersGreycroftPTX Capitalsuper{set}
SocialToaster is a brand advocacy platform that helps organizations activate advocates—such as customers, employees, students, alumni, donors, and fans—to share content through their personal social networks.
Marketing TechSaaSSocialBaltimore, US
Brian Razzaque(Executive Officer, Director)inThomas Heseltine(Executive Officer)
BoardJohn Sabo(Director)Cal Simmons(Director)Joe Callanan(Director)inLance Ullom(Director)in
Co-investorsMoonshots CapitalBlu Venture InvestorsWasabi Ventures
Tools for proactive monitoring of open and dark web for stolen digital assets.
Baltimore, US
Michael Moore(Executive Officer, Director, Promoter)Daniel Rogers(Executive Officer, Director, Promoter)
BoardDavid Oros(Director)E. Wayne Jackson III(Director)Jack Dunn(Director)
Co-investors.406 VenturesGlasswing VenturesOmidyar Network
Traitify offers visual, image-based personality and talent assessments designed for mobile use, with a statistical model that matches applicants to top-performer profiles.
Future of WorkHR TechSaaS
WBX is an Amazon Preferred Partner Agency specializing in Amazon sponsored ads, DSP, and Marketing Cloud technology for consumer brands.
AdTechE-commerceMarketing TechSaaS
Co-investorsNoro-Moseley Partners
Welldoc develops an AI-driven digital health platform focused on cardiometabolic disease management, providing personalized treatment solutions for patients with diabetes and related conditions.
AI & Machine LearningDigital HealthHealthtechBaltimore, US
Ryan Sysko(Executive Officer, Director)inSuzanne Clough(Executive Officer)inKevin McRaith(President and CEO)inAnand Iyer(Chief AI Officer)inChris Bergstrom(Executive Officer)in
BoardTerry Lierman(Director)
Co-investorsMerck Global Health Innovation FundSamsung VenturesAsset Management CompanyDigiTx Partners LLCExcel Venture ManagementMSD Global Health Innovation Fund+2 more
Yet Analytics builds open-source software for learning data management and interoperability, including xAPI Learning Record Stores, data filtering tools, and synthetic data generators.
Data & InfrastructureDeveloper ToolsEdTechSavage, US
Shelly Blake-Plock(Founder)in
Co-investorsMaryland TEDCOMoonshots CapitalTEDCO
ZeroFox provides an external cybersecurity and threat intelligence platform that discovers, validates, and disrupts threats across social platforms, the dark web, and physical locations.
AI & Machine LearningCybersecuritySaaSBaltimore, US
Evan Blair(Executive Officer)inJames C. Foster(Executive Officer, Director)inJennifer Leroux(Executive Officer)in
BoardCorey Mulloy(Director)Lane Bess(Director)Peter Barris(Director)in
Co-investorsComcast VenturesIntel CapitalNew Enterprise Associates (NEA)Verissimo VenturesGenacast VenturesHighland Capital Partners
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
BambecoBytelionCerebroEcomapSnag-A-SlipSnagaslip
Exits · 3
3 acquisitions · showing 2Protenusacq. by BluesightTerbium Labsacq. by Deloitte
Portfolio news
latest coverage across their companiesTipRanks · tipranks.com · Sep 9, 2026
Qualytics · finsmes.com · Jun 23, 2025
Pixee · fintech.global · May 23, 2025
Frequently asked questions
- How many investments has TCP Venture Capital made?
- TCP Venture Capital has 33 tracked investments, 3 of which have exited.
- What stage does TCP Venture Capital invest at?
- TCP Venture Capital invests at the Pre-Seed, Seed, Series A, Series B, Late Stage stages.
- What sectors does TCP Venture Capital focus on?
- TCP Venture Capital focuses on AI & Machine Learning, Consumer, Cybersecurity, Data & Infrastructure, Digital Health, EdTech, Enterprise Software, Fintech, Healthtech, IoT, Media & Entertainment, SaaS.
- Where is TCP Venture Capital located?
- TCP Venture Capital is headquartered in Baltimore, US.
- Does TCP Venture Capital lead rounds?
- Yes, TCP Venture Capital leads investment rounds.
- Who does TCP Venture Capital co-invest with?
- TCP Venture Capital most often shares deals with Maryland TEDCO, TEDCO, University System of Maryland Momentum Fund, among 54 tracked co-investors.
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