Three Roots Capital Opens New Office on UT, Knoxville Campus

January 31, 2025

Three Roots Capital celebrated an exciting milestone by cutting the ribbon on a brand-new office located in the University of Tennessee Research Foundation’s Business Incubator on the University of Tennessee, Knoxville (UTK) campus.

The ceremony brought together investors, entrepreneurs and ecosystem partners who gathered to support the occasion. Grady Vanderhoofven, President and Chief Executive Officer of Three Roots Capital, addressed the attendees with gratitude and encouragement, emphasizing the firm’s commitment to fostering entrepreneurship and innovation.

“This space is all about supporting small businesses affiliated with the University of Tennessee, start-up companies, and small businesses,” Vanderhoofven shared. “We’re just carrying on an initiative that UTK has had for a long time. This space is for you.”

A Legacy of Impact

Since its founding eight and a half years ago, Three Roots Capital has established itself as a driving force in regional economic development. Vanderhoofven highlighted the firm’s impressive track record, outlining some of its major accomplishments:

  • Managing $190 million in assets as of December 2024.
  • Deploying $170 million in capital over the past eight and a half years.
  • Securing $95 million in New Markets Tax Credits (NMTCs) to support economic growth in distressed areas.
  • Deploying $45 million of the NMTCs to date, with plans to allocate the remaining $50 million soon.
  • Financing the construction or renovation of 970 units of affordable housing.
  • Providing financing to 15 start-up companies, including four UT start-ups.
  • Supporting $25 million in financing for projects at the UT Research Park.
  • Financing the construction or renovation of nearly four million square feet of real estate.
  • Contributing to the creation and retention of 3,600 jobs.

Each of these achievements underscores Three Roots Capital’s dedication to economic growth in East Tennessee and the surrounding regions.

Strengthening Collaboration with UT

In addition to its past accomplishments, Vanderhoofven announced that Three Roots Capital is partnering with UT on two National Science Foundation (NSF) grant applications, each valued at over $100 million.

“We have a multi-decade history of collaborating with the university, which we’re continuing today, and that’s why being here is such a big deal,” Vanderhoofven said.

A Strategic Investment in Innovation

The decision to open an office on UTK’s campus aligns with Three Roots Capital’s mission to support innovation and entrepreneurship. By situating itself within the heart of Knoxville’s entrepreneurial ecosystem, the firm is positioned to further its impact on small businesses, start-ups, and the university’s innovation initiatives.

The ribbon-cutting event serves as a reminder of Three Roots Capital’s commitment to its community and its vision for long-term growth and collaboration.