This month, the 1864 Fund made its first lead investment of $500,000 to Lucihub, a Las Vegas-based next-generation video production platform.

The 1864 Fund expects to deploy investments ranging from $250,000 to $2 million over the next 30-40 months into 25-35 companies. To be considered for an investment from the 1864 Fund, startups must (at a minimum) have:

• Coachable founder(s) focused on an exit in less than 7 years
• At least $500,000 in annual sales, growing at more than 3X annually
• Ability to command a mid-eight-figure valuation in less than 5 years
• A highly valued, essential solution that has a large potential market
• Rapid sales growth with very low customer churn

 Companies seeking an investment from the 1864 Fund do not have to be from Nevada but must be based in the United States and are typically west of the Mississippi, outside of the traditional venture enclaves such as California, Washington, or New York.  

Companies with large up-front capital requirements, long lead times, crypto-centric business models, or focused on consumer packaged goods (CPG) will not be considered.  

The first seed fund based in Nevada specifically for accredited investors who invest $50,000 or more, the 1864 Fund is managed by Granite Partners, a group of four former founders with seven successful exits among them, including Jeff Saling, executive director of StartUpNV; Steve Hurst, founder of Mind Medicine; Piotr Tomasik, co-founder of TensorWave; and Leith Martin, executive director of the Troesh Center for Entrepreneurship at the University of Nevada – Las Vegas. Spanning the Boomer, GenX, and Millennial generations, the managing partners supervise the fund’s investment selection committee of individuals who invest $1 million or more.  

“Through StartUpNV, AngelNV, and FundNV, we have for a long time successfully supported local startups that are younger or in their pre-seed phase of development, and we have championed broadening investment opportunities for Nevadans and allowing investors to participate at lower minimum investment levels,” said Saling. “However, there are also numerous companies in Nevada and the American West that have proven themselves viable, are ready to scale, and need seed-stage investment. The 1864 Fund seeks to be a venture capital leader for these companies that aren’t located in the typical enclaves like Silicon Valley or Seattle. By growing the investment community in Nevada and neighbouring states, we seek to drive returns while making an impact in the communities we serve through economic development, diversification, and resiliency.”

Saling added that he anticipates the 1864 Fund to make a great impact in Nevada and beyond given the accomplishments of the managing partners thus far. Since 2021, Granite Partners (GP) has invested $11.5 million via 39 investments in 23 startups. GP's managed funds and syndicate investments are worth $44 million as of Q2 2025 and include 500-plus unique high-net-worth investors. GP has formal partnerships with StartUpNV and the State of Nevada's State Small Business Credit Initiative (SSBCI), a program that matches their investments in Nevada startups 1:1. Additionally, seven venture funds and multiple angel groups have followed GP’s lead since 2021, adding $23.5 million to their direct investments. 

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