Phoenix-based startup studio Coplex has launched its first $5M accelerator fund.
Founded by Troy Rice and Zach Ferres in Phoenix and Allen Debevoise in LA, Coplex Ventures Accelerator Fund I will be focusing investments in Phoenix, LA, and Seattle but will also consider other opportunities around the country.
As part of its effort to transition from a digital agency to a startup studio, Coplex recently raised some capital and has partnered with domain experts to start software companies. It has options for ventures to keep their equity and pay to come through its programs or apply for equity financing with the new accelerator fund.
Coplex, which has built almost 300 software startups to date, recently relocated into the Galvanize location in the new Phoenix Warehouse District.
Some of the studio’s Phoenix-based ventures are:
– ZipSit, an on-demand babysitting app.
– Ruru, a personalized apartment rental finder, and
– Shepherd, a veterinary practice-management software.
One of most active partners & investors in Coplex & Coplex Ventures is Jim Prendergast, who just sold HealthiestYou for $162M to Teladoc in San Diego.
The firm is now looking to validate its new model with Fund I and then raise additional regional and growth funds in the coming years. They plan to expand in other markets around the world starting with the United Arab Emirates next year.