Southern Appalachian Fund

The Southern Appalachian Fund (SAF) is a venture capital fund established to provide equity capital and operational assistance to small businesses located in low-income areas of the Southern Appalachian region. Formed in 2003, the fund was part of the New Markets Venture Capital (NMVC) program, a public-private partnership with the U.S. Small Business Administration. SAF was managed by Meritus Ventures and focused on stimulating economic development and job creation in states such as Kentucky, Tennessee, and West Virginia. While the fund invested in technology and manufacturing, it functioned as a financial intermediary rather than a life sciences research or development company.