"We can still scale up consumer goods in the Triangle," Replogle said, noting that the Triangle doesn't have an anchor company that attracts consumer talent, like Austin has in Whole Foods or Minneapolis does with Target.
"I don't think you need a billion-dollar enterprise to make it happen," he said. "But you need a field of flowers to bloom. Let's make a crop of 100 consumer-good companies that are thriving and a number of them will make it to $100 million revenue."
For now, One Better Ventures will slow its pace of investment. "We started fast," Replogle said, "but we will probably slow the pace over the next few years. We expect to make one to two deals per year. We don't want the portfolio to get above 10 companies because we want to be able to give them a lot of attention."
This story was produced with financial support from a coalition of partners led by Innovate Raleigh as part of an independent journalism fellowship program. The News & Observer maintains full editorial control of the work.
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