Greenville is on the verge of welcoming an exciting new live-music venue to the area—made possible using a relatively new funding tool that brings in cash investments from the community.
Trueline Greenville is the new venue and brainchild of founder and CEO Michael Grozier, a House of Blues cofounder. To help bring Grozier’s vision to fruition, Trueline partnered with Greenville-based Vicinity, which recently announced that Trueline has maxed out the initial equity funding cap of $5 million within 15 months.
Founded in 2020, Vicinity utilizes regulation crowdfunding, or Reg CF, a tool created through Title III of the 2012 JOBS Act. Vicinity partners John Crawford and Josh Rollins said that, “through Reg CF, almost anyone can invest in new businesses in their communities.” The concept of investing where you live brings a host of benefits, the pair said.
“We wanted to create alternative-investment opportunities where people can invest in things that they can drive by and be a part of,” Crawford explained. “Maybe they know the owners or are six degrees from an owner. Maybe it’s something they want to see come to town, or maybe they just know and love the area.”
Crawford noted that Grozier was eager to involve the community as part of Trueline’s foundation in Greenville: “Michael ‘got it’ quickly,” Crawford said. “He understood the value of the community aspect; he wanted to immerse himself and provide open access to his venue.”
As Grozier explained, “Working with Vicinity has been incredible because they help to democratize investment, allowing more people to become investors in something they believe in. This type of investing aligns with Trueline’s overall vision of inclusivity and connecting with the community.”
Rollins said one of the main advantages of Reg CF is that it allows both accredited and nonaccredited investors to become involved. Thus far, Vicinity has successfully closed 15 offerings—including The Franklin and The Pool at Hollingsworth, both in Greenville.
To learn more about investing opportunities through Vicinity, check out the website at vicinitycapital.com.
