The GrowCo Fund
Every dollar planted grows the next one.
The GrowCo Fund makes the first institutional check into Columbia startups with the potential to scale far beyond our community - and recycles every return into the next generation of founders.
About the FundAbout the fund
Every dollar contributed plants a tree that, when it bears fruit, plants more trees.
The Boyd Innovation Center (BIC) is a 501(c)(3) nonprofit dedicated to building a durable engine of entrepreneurship in Columbia, SC. The GrowCo Fund is BIC's seed-investment vehicle: a philanthropically-funded, evergreen pool of capital that makes the first institutional check into local startups with the potential to scale far beyond the local community.
Contributions are tax-deductible. Returns from successful exits are not distributed - they are recycled back into the fund to underwrite the next generation of founders. The result is a self-reinforcing flywheel.
Why this exists
The earliest dollars are the hardest to raise - and the most consequential.
Most high-growth companies are launched in places where early capital, mentorship, and community already exist. In communities without that infrastructure, promising founders move away - or never get started. The BIC was created to change that equation in Columbia.
A $25,000 check in the right week can be the difference between a company that scales and one that never gets off the ground.
Founder education, mentorship, and ecosystem-building events.
A physical hub where founders, operators, and supporters gather.
The GrowCo Fund: patient, philanthropic seed dollars when commercial capital won't move yet.
Why it works
Four reasons this model is built to last.
Tax-Deductible
The Boyd Innovation Center is a registered 501(c)(3). Every contribution is fully deductible to the extent allowed by law.
Evergreen
Returns from successful exits flow back into the fund and underwrite future investments - your gift keeps working long after the first check is cut.
Local
We invest where we live. Every dollar strengthens the entrepreneurial ecosystem in South Carolina, with a particular focus on Columbia, SC.
Catalytic
Our checks are designed to unlock follow-on capital from angels, regional VCs, and strategic partners.
At a glance
Built for permanence.
- Structure
- Donor-advised seed fund inside a 501(c)(3)
- Typical check
- $10,000–$50,000 initial; reserves for follow-on
- Geography
- Columbia, SC and surrounding communities
- Stage
- Pre-seed and seed; first institutional capital
- Sectors
- Sector-agnostic; bias toward scalable technology and IP-driven businesses
- Return policy
- 100% of exit proceeds reinvested in future startups
- Instruments
- SAFEs, convertible notes, and priced equity rounds
- Governance
- Investment Committee + BIC Board of Directors; annual audit
How the fund works
Structured to invest early and stay accountable.
Investment Mechanics
The fund writes initial checks with reserves set aside for follow-on participation in the strongest companies. Companies are evaluated on five criteria:
- Strength of the founding team
- Size and accessibility of the market opportunity
- Differentiated product or technology
- Realistic path to follow-on commercial capital
- Local presence and intent to grow in Columbia
The Evergreen Model
This is what makes the GrowCo Fund different from a traditional grantmaking program. When a portfolio company is acquired or otherwise produces a return, the proceeds flow back into the fund - not to donors. A $100,000 gift that helps fund a successful exit might recycle into two, three, or more subsequent investments over the following decade.
Your contribution doesn't spend down. It compounds.
Governance & Oversight
Investment decisions are made by the GrowCo Fund Investment Committee, composed of members drawn from the BIC board - all founders, experienced operators, or seasoned investors. The committee meets at least quarterly and operates under written investment guidelines. All investments are reviewed by the BIC's board of directors, and the fund is audited annually as part of BIC's standard 501(c)(3) audit.
Accountability
We report every year - to donors and to the public.
We report annually on:
Companies funded and total capital deployed
Jobs created and retained in the Columbia area
Follow-on capital attracted by portfolio companies
Realized returns recycled back into the fund
Tax treatment
Built for efficient giving.
Contributions to the GrowCo Fund are tax-deductible to the full extent permitted by the Internal Revenue Code. Because contributions are charitable gifts - not investments - donors do not receive equity, financial returns, or any right to direct specific investments. The benefit is the tax deduction and the philanthropic impact of the fund's work.
Two ways in
Where do you fit?
Ways to get involved
Three ways to move the needle.
Give
Make a one-time or recurring contribution at any level.
Connect
Introduce us to founders, operators, mentors, and other supporters. Our pipeline is community-sourced - warm introductions are the single most valuable contribution many of our supporters make.
Serve
Experienced operators and investors are invited to apply for our mentor roster. Active mentors are regularly considered for the Investment Committee, the BIC board, and other advisory roles.
Leadership
The people behind the fund.
Full board and committee rosters are available on request.
Frequently asked
Questions we hear from donors, advisors, and founders.
Request info
Start the conversation.
Tell us a little about yourself and we'll follow up personally. Every message goes directly to the fund co-managers.
Ready to plant the next tree?
Get in touch to discuss a contribution, ask questions, or learn more about how the GrowCo Fund works.
GrowCo Columbia, Inc. (dba The Boyd Innovation Center) is a 501(c)(3) tax-exempt organization. EIN: 84-2927926. No goods or services are provided in exchange for contributions unless otherwise noted in your gift receipt.