Fund That Tiger Announces $1 Million Initial Close, Triggering First Capital Call for Clemson Alumni Venture Fund

Inaugural close unlocks fund’s ability to make its first investments in Tiger-led startups

Fund That Tiger, a Clemson, SC-based venture capital fund focused exclusively on Clemson University alumni-led startups and university-born technologies, today announced the initial close of Fund That Tiger I, LLC, with $1 million in committed capital will take place on March 31st, 2026. The milestone triggers the fund’s initial capital call from early investors, paving the way for the fund to make its first investments.

Founded by Joe Milam and Matt Johnson — both proud Clemson alumni — Fund That Tiger was launched in 2025 with a target fund size of $10 million. The fund invests between $100,000 and $1 million in pre-seed, seed, and early-stage companies, with a focus on tech-driven or tech-enabled businesses led by members of the Tiger network. The fund is industry-agnostic, with interest in sectors including technology, health and life sciences, sustainability, and advanced manufacturing.

“I cannot be more excited about calling our initial capital and getting to work investing in the best Clemson Tiger-led startups.”
— Joe Milam, Co-Founding Partner, Fund That Tiger

The initial close marks a significant milestone in realizing the fund’s vision: to put professional, disciplined venture capital behind the innovation and entrepreneurial spirit that defines the Clemson community. With over 189,000 active alumni worldwide, more than 2,000 Tiger CEOs running companies of 50 or more employees, and $368 million in annual university research expenditures, the team believes the conditions are right for a dedicated alumni venture fund.

Co-Founding Partner Matt Johnson, who previously founded Johnson Venture Partners — an Atlanta-based seed and early-stage venture fund with notable portfolio companies including 6AM City, Impiricus, TSOLife, and Viva Finance — brings deep early-stage investing experience to the partnership. Together, Milam and Johnson bring more than 20 years of combined venture and operating experience, with 40-plus early-stage investments across the Southeast and beyond.

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With the initial capital call now underway, Fund That Tiger is actively evaluating its pipeline of Tiger-led companies across sectors, including medtech, electric vehicles, AI-powered platforms, reproductive health technology, and university-commercialized innovations. The fund targets pre-money valuations below $20 million and seeks portfolio companies with the potential to generate a 10x or greater return multiple.

Fund That Tiger has established partnerships with leading investor networks and entrepreneurial support organizations, including Launchpad Tech Ventures, Venture Atlanta, VentureSouth, Clemson University Research Foundation, the South Carolina Research Authority (SCRA), Atlanta Tech Village, Atlanta Technology Angels, the ATDC, and Research Triangle Park. The fund is administered on Carta, with legal counsel provided by Nelson Mullins.

Fund That Tiger is a wholly independent entity and is not affiliated with, sponsored by, endorsed by, or otherwise connected to Clemson University.

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