— Portfolio —


Designing classic handmade bears made in VT for over 20 years. Now also offering Calyx Flowers & PajamaGrams.


Quirky is a community-driven, social product development firm striving to make invention accessible. 


The EatingWell Media Group is emerging as a leading national source of contemporary nutrition, cooking and wellness


Travel technology company delivering mass transit solutions when and where they are needed most


SunCommon’s is tearing down the barriers to renewable energy by making it easy for all its customers to go solar.


Ello is a simple, beautiful, and ad-free social network created by a small group of artists and designers.


NativeEnergy is a national marketer of renewable energy credits (RECs) and high-quality carbon offsets.


Mamava delivers design solutions for nursing mothers on the go, making the world a friendlier place for women to pump or breast feed.

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— Our Team —

Timothy C. Davis

Managing Director

Davis joined FreshTracks as a Managing Director in July 2005. Tim serves on the Boards of Solais, SolarOne & Moscow Mills, and as an Observer to the Board at Auterra. Tim was also a Board Director at NEHP prior to its successful sale to CPS Group.

Lee E. Bouyea

Managing Director

Bouyea joined the FreshTracks team in 2005. In his role as Managing Director, he has served on the Boards of Ello, Bridj, Draker Energy, Patient Engagement Systems, NEHP & leads the firm’s investments in Kohort & Quirky.

Cairn G. Cross

Co-founder / Managing Director

Cross is a co-founder of FreshTracks Capital and serves as a Managing Director of the Fund. He serves on the Boards of Vermont Teddy Bear, NativeEnergy, Faraday & Budnitz Bicycles and is an Observer to the Board at SunCommon.

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— Upcoming Events —


Road Pitch

FreshTracks’ Road Pitch sends Business Bikers on the Road for a 4 day road trip across Vermont in search of the best and brightest entrepreneurs across the state. The Road Warriors hold Office Hours in select towns across the Green Mountains to solicit pitches from teams of entrepreneurs seeking advice and capital.


Peak Pitch

March 3, 2016 / Sugarbush Resort, Warren, VT

Matching Entrepreneurs & Investors on the Chairlift, Peak Pitch is a skiing, networking & pitching event FreshTracks organizes at Sugarbush Resort in March of each year.

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— In The News —

Lee Tim Cairn

NYT reporter Jodi Kantor discusses Gender in the Workplace on @vprnet featuring @MAMAVA digital.vpr.net/post…

Untitled team

FreshTracks Capital Raises its Third Fund

FreshTracks Capital announces the closing of FreshTracks III, its third venture capital fund raised since the firm was founded in 2000. This most recent Fund raised $11.5 million from 48 Limited Partners, and intends to invest in 10 – 15 companies over its 10 year life.


Ello Answers Critics with $5.5MM in Venture Capital

What is that mission? Lee Bouyea of FreshTracks Capital says Budnitz made it clear when pitching FreshTracks. “Paul came to us over a year ago and said, ‘I want to build an ad-free social network,’ and he’s never wavered from that vision, and we bought into that vision when we funded this back in January.”


LCRCC Names FreshTracks Vermont Business of the Year

The Lake Champlain Chamber of Commerce named FreshTracks Capital its Business of the Year at the annual dinner held in November at the Sheraton Convention Center in South Burlington.

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