New Launch NH venture aims to help build companies

A trio of local entrepreneurs and investors have partnered with Softeq Development Corp. of Houston, Texas, to create Launch New Hampshire LLC, an enterprise aimed at providing startups with the financing, resources and mentoring they need to grow and thrive.

Launch NH began with a runaway dog.

After recovering the family dog, Terry Anderton of Rye, a serial entrepreneur and technological innovator, promised his children it would never happen again. He set about developing a smart collar that would monitor, control and contain dogs with highpitched and ultrasonic signals rather than shocks.

To spare the costs of hiring a team of engineers, designers and marketers, Anderton contracted with Softeq’s accelerator program to design and develop the product as well as define its market. As the Wagz Freedom Collar lined the shelves of major retailers, Anderton set a new standard for “pet tech” and became an ambassador for Softeq.

Founded in 1997, Softeq has established a global presence, providing an array of hardware, software and consulting services to companies ranging from those listed among the Fortune 500 to others in the embryonic stage of development. Altogether, Softeq has financed more than 40 startups producing more than 75 products.

Anderton introduced the Simchiks, father Michael and son Jamie, to Softeq. The Simchiks developed 100 Market Street in Portsmouth and Capital Commons in Concord as well as commercial properties in Manchester. Apart from the Hotel Concord, a restaurant and cinema, Capital Commons includes an events center and office space, which is home to HRKNSScowork, which provides budding entrepreneurs, small businesses and remote employees with office space, hot desks, meeting rooms, mail services and other services.

Meanwhile, in 2021 Softeq rebranded its accelerator program as the Softeq Venture Studio and this year created the Softeq Venture Fund, whose founding general partner Bret Siarkowski recently moved to Hopkinton. Siarkowski brings 20 years’ experience as an entrepreneur, manager, consultant and investor to a wide range of technology companies.

Vetting process

With $25 million already in hand, the venture fund intends to raise $40 million, of which the partners in Launch NH — Anderton and the Simchiks — have committed to raise $15 million. After investing in 27 startups since 2021, the Softeq Venture Fund plans to invest in 40 in each of the next three years, giving preference to up 12 New Hampshire companies financed by Launch NH.

“This is something all three of us have already done for years,” Siarkowski remarked. “Now we’re doing it together and to scale.”

Softeq accepts applications from entrepreneurs each quarter and picks the most promising to pursue a half-dozen projects through its Venture Studio.

Softeq makes an initial investment of $125,000 in return for a 6 percent equity interest in these companies. Over the course of three months, which includes a week each month in Houston, Softeq’s team assists with refining the technology as well as the business model, legal issues and marketing plan.

Siarkowski explained, ”We package the company and prepare it to secure the next round of funding.” He described the program as a “vetting process,” which by reducing the technological, market and capital risks of the venture ensures it is “investable” and positions it to secure the next round of funding.

“As the lead investor,” he said, “we place a small bet with venture capital, sometimes more, and introduce companies to the individual and institutional investors who place the bigger bets, from $500,000 to $1 million.”

“With Launch NH we’re creating a satellite venture studio from venture capital investors in New Hampshire,” Jamie Simchik said. “We’re very enthusiastic about this partnership. It gives us a real quality program to build New Hampshire companies. New Hampshire has been slow to adopt an innovation ecosystem, but with nearby Boston enjoying continued startup successes, we have the unique opportunity to leverage what is happening in Massachusetts, as well as in Vermont and Maine.”

“New Hampshire investors now have a sound investment vehicle,” added Michael Simchik. “Softeq is a proven entity with a record of success.”

He said that New Hampshire, with its strong, growing economy and favorable business climate, offers opportunities for both entrepreneurs and investors.

In a press release, Christopher A. Howard, founder and CEO of Softeq, said the venture will help in “fostering the innovation ecosystem in New Hampshire and New England.”

Brett Siarkowski