Key Takeaways
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Leverage Rhode Island's unique density to accelerate your networking timeline and reach decision-makers faster than in saturated markets like Boston or New York.
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Capitalize on the state's global competitive advantage in the Blue Economy and Life Sciences sectors, anchored by the Ocean Tech Hub and new lab infrastructure.
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Navigate the fragmented funding landscape by connecting with active local investors like the Slater Technology Fund and Cherrystone Angel Group.
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Access critical non-dilutive support and specialized mentorship through key hubs like RIHub, NEMIC, and the state-backed Innovation Voucher Program.
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Prepare for the specific challenges of raising Series A capital in the region while utilizing data-driven tools to manage your fundraising funnel from outreach to closing.
Rhode Island is often defined by its proximity to Boston or New York, but its local startup ecosystem functions much differently. The state operates on a model of density and accessibility. Founders here benefit from a "one degree of separation" culture, where a single introduction can often lead directly to decision-makers. This accessibility accelerates networking timelines that might take months in larger, more saturated markets.
The state has carved out specific niches where it competes globally rather than regionally. The Blue Economy is a primary driver, anchored by the Ocean Tech Hub and massive investments in offshore wind and defense. Life Sciences is another rapidly growing sector, supported by new infrastructure like the Danoff Life Sciences Laboratories and significant NIH funding. Design and advanced manufacturing also remain core pillars of the local economy.
Finding capital in Rhode Island requires navigating a fragmented landscape. Unlike major hubs with centralized VC rows, funding here comes from a mix of university-backed funds, state-supported initiatives, and private angel groups.
This guide connects the dots for founders raising capital in Rhode Island. You will find a curated list of active investors who understand the local market. We also cover the essential resources available to you, from RIHub to CIC Providence.
Active Venture Capital Firms and Investors in Rhode Island
Slater Technology Fund
Slater is an evergreen not-for-profit seed fund dedicated to supporting new venture development in Rhode Island. We invest in early-stage technology ventures founded by entrepreneurs who have the vision, courage and tenacity to build companies that aim to achieve transformational impact in the industries or markets they serve.
Cherrystone Angel Group
Cherrystone Angel Group, founded in 2004 with more than 30 members, is Rhode Island’s first organized angel investment group. All their members are experienced and qualified investors who have either built their own companies or have extensive experience launching new business ventures. Many have done both. Their backgrounds include creating or working with manufacturing, distribution, technology, and service companies.
RightHill Ventures
RightHill Ventures provides venture capital and other support to early-stage technology companies commercializing the most promising R&D coming from university ecosystems. We work in partnership with Brown, the University of Rhode Island, and other higher education institutions and their alumni to identify and fund the innovators who are developing solutions to some of the world's most challenging problems.
Van Wickle Ventures
Van Wickle Ventures's mission is to support entrepreneurs on College Hill and beyond while democratizing VC education. Inspired by the characteristically Brown spirit of innovation, VWV backs the university’s most groundbreaking students, faculty, and alumni.
Nautic Partners
As a middle market private equity firm, we focus on three specialties while supporting the long-term value creation of our portfolio companies.
Providence Equity Partners
Providence Equity Partners is a specialist private equity investment firm focused on growth-oriented media, communications, education, and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to seek to help management teams build exceptional businesses and generate superior returns. Since its founding in 1989, Providence has invested over $38 billion across more than 180 private equity portfolio companies as of December 2024. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta.
Thursday Ventures
Thursday Ventures is an early-stage firm operating under the thesis of "talent wins."
Rhode Island Resources and Networking
Incubators and Accelerators
- RIHub: This is the central entry point for most Rhode Island founders. Their flagship Venture Mentoring Service matches founders with a team of unbiased mentors for ongoing guidance.
- Social Enterprise Greenhouse (SEG): If your startup has a social or environmental mission (e.g., health equity, clean energy, education), SEG is the best home for you. They run a 12-week Incubator for early-stage ideas and an Accelerator for established ventures ready to scale.
- NEMIC (New England Medical Innovation Center): Located in the Innovation & Design District, NEMIC is strictly for MedTech and Digital Health founders. They specialize in navigating FDA regulations and product development. Their accelerator program is funded by RI Commerce to help startups bridge the gap between concept and commercialization.
- Ocean State Labs (Powered by Portal Innovations): While the full physical lab space at 150 Richmond Street officially opens in 2026, the program is active now. It bridges the gap for life sciences founders graduating from academic research (Brown/URI) into commercial ventures, offering capital and management support.
Coworking Hubs
- CIC Providence: Located at 225 Dyer Street, this is the "center of gravity" for the Providence ecosystem. It houses hundreds of startups. It is more than just a desk; it is where you go to be seen and meet people in the hallway.
- Innovate Newport: The primary hub for the Blue Economy and defense sectors. If you are building for the ocean or working with the Naval Undersea Warfare Center, this is where you should be based. It offers coworking, private offices, and direct access to industry partners.
Key Networking & Events
- Venture Café Providence: Held every Thursday evening at CIC Providence. It is free, open to the public, and serves as a low-pressure environment to meet investors, potential co-founders, and community leaders.
- Rhode Island Business Competition: The oldest pitch competition in the state. It awards significant non-dilutive cash and professional services (legal, accounting) to winners. Applications typically open in January, with awards presented in April.
The Rhode Island Fundraising Landscape: Trends, Strengths and Challenges
Rhode Island’s fundraising environment is defined by focused momentum. While the state doesn’t attempt to be everything to everyone, it has successfully consolidated resources around specific high-growth sectors where it has a genuine competitive advantage.
Current Trends (2025)
- The Blue Economy Boom: The "Blue Economy" is no longer just a buzzword; it is the state's primary economic engine. Anchored by the federally designated Ocean Tech Hub, there is a surge in funding for dual-use technologies (commercial and defense) focused on maritime robotics, offshore wind supply chains, and autonomous underwater vehicles.
- Life Sciences Surge: The ecosystem is seeing a major infrastructure upgrade with the development of Ocean State Labs. Managed by Portal Innovations and set to fully open its physical space in early 2026, this initiative has already announced its foundational cohort of startups in late 2025, bridging the gap between academic research at Brown University and commercial viability.
- Defense Tech Spillover: With the massive Naval Undersea Warfare Center (NUWC) in Newport, startups solving defense problems are finding it easier to secure non-dilutive government funding alongside private venture capital.
Recent Success Stories
- Vatn Systems (Portsmouth): A major win for the defense-tech sector, Vatn Systems raised a $60 million Series A in December 2025 to scale its manufacturing of autonomous underwater vehicles. The round was led by BVVC with participation from major defense investors, signaling strong external confidence in RI-based hardware startups.
- REGENT Craft (North Kingstown): Developing all-electric "seagliders" for coastal transportation, REGENT continues to be a flagship for the region. Following a major Series A, the company broke ground on a new manufacturing facility in 2025, cementing its long-term commitment to the state.
- Intus Care (Providence): A HealthTech success story focused on geriatric care analytics. After an initial Series A, the company secured an additional $11.5 million in strategic financing in early 2025 to launch its CareHub platform, bringing its total funding to over $27 million.
Strengths
- Access to Decision Makers: In larger hubs, getting a meeting with a university president or a state economic director can take months. In Rhode Island, the "one degree of separation" culture means founders can often access high-level mentorship and government officials through a single warm introduction.
- Innovation Vouchers: The state offers tangible non-dilutive support through the Innovation Voucher Program. Eligible businesses can receive up to $75,000 to fund R&D projects in partnership with local knowledge providers (universities, hospitals), essentially subsidizing early product validation.
Challenges
- The "Lead Investor" Shortage: While seed capital is relatively accessible through local angels and Slater Technology Fund, securing a lead investor for a Series A round (typically $5M–$10M+) often requires looking outside the state.
- Regional Reliance: Most successful growth rounds involve building bridges to firms in Boston or New York. Founders should view Rhode Island as a launchpad where they can validate their model capital-efficiently, but they must be prepared to travel for growth capital.
Connect With Investors in Rhode Island Using Visible
At Visible, we often times compare a fundraise to a B2B sales and marketing funnel. At the top of your funnel, you are finding new investors. In the middle, you are nurturing and pitching potential investors. At the bottom of the funnel, you are working through diligence and ideally closing new investors.
With the introduction of data rooms, you can now manage every aspect of your fundraising funnel with Visible.
- Find investors at the top of your funnel with our free investor database, Visible Connect and find a filtered list of investors.
- Track your conversations and move them through your funnel with our Fundraising CRM
- Share your pitch deck and monthly updates with potential investors
- Organize and share your most vital fundraising documents with data rooms
Manage your fundraise from start to finish with Visible. Give it a free try here.
Frequently Asked Questions
Who are the active venture capital firms in Rhode Island?
The Rhode Island funding landscape is driven by a mix of state-supported funds and private groups rather than a centralized VC row. Key active investors include the Slater Technology Fund, an evergreen seed fund, and the Cherrystone Angel Group. Other notable players include RightHill Ventures, which focuses on university spinoffs, and Van Wickle Ventures.
How can startup founders find funding in Rhode Island?
Finding capital in Rhode Island relies heavily on networking within the local ecosystem. Founders should engage with central hubs like RIHub and attend events at Venture Café Providence to build connections. Because the state operates on a "one degree of separation" culture, a single warm introduction can often lead directly to decision-makers and active investors.
What are the top industries for startups in Rhode Island?
Rhode Island focuses on high-growth niches where it holds a competitive global advantage. The Blue Economy is the primary driver, supported by the Ocean Tech Hub and investments in offshore wind and defense. Life Sciences is also surging, anchored by new infrastructure like Ocean State Labs and significant NIH funding, alongside advanced manufacturing and design.
What accelerators and incubators are available in Rhode Island?
Founders have access to several specialized support organizations. RIHub serves as the central entry point for most startups. For specific sectors, the Social Enterprise Greenhouse (SEG) supports impact ventures, NEMIC focuses on MedTech and digital health regulation, and Innovate Newport provides resources specifically for Blue Economy and defense-related companies.
What are the benefits of launching a startup in Rhode Island?
Rhode Island offers a unique density and accessibility that larger markets lack. The state serves as an efficient launchpad where founders can validate models capital-efficiently and access high-level mentorship quickly. While securing Series A capital often involves connecting with regional hubs like Boston, the local ecosystem provides robust non-dilutive support and rapid networking timelines.
