After raising an impressive $88 million, start-up bank CapStar has filed with the state and the FDIC to operate a state-chartered commercial bank
According to the release, roughly $63 million was raised locally with the remaining $25 million coming from a separate offering from private equity outfit Corsair Capital Management.
The bank did not have an underwriting or placement firm but Avondale Partners provided administrative services.
The banks first branch will be located with the banks headquarters on the ninth floor of 201 Fourth Avenue North.
With $88 million, CapStar is the highest capitalized start-up bank in Tennessee history.
Led by Claire Tucker, the banks notable founders include Denny Bottorff, iPayment CEO Greg Daily, and local investor Toby Wilt
Finance and Ventures |
Toby S. Wilt |
Gregory S. Daily |
Dennis C. Bottorff |
Claire W. Tucker |
CapStar Bank |
Avondale Partners LLC |
Corsair Capital Management LLC
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