# FreshTracks Capital

FreshTracks Capital is a Private Equity based in Shelburne, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Shelburne, United States
- **Region:** North America
- **Address:** Shelburne, VT, United States
- **Founded:** 2000
- **Assets under management:** Undisclosed
- **Website:** www.freshtrackscap.com
- **LinkedIn:** https://www.linkedin.com/company/freshtracks-capital

## Regulatory record

- **Reports private funds:** No

## About

FreshTracks Capital is an early-stage venture capital firm focused on financing businesses in Vermont and surrounding regions. It manages a family of early-stage venture capital funds invested with a core focus on Vermont companies. The firm’s expertise, networks, resources and capital support innovative businesses through multiple rounds of financing and stages of growth.

## Sectors

- Enterprise Software
- AI/ML
- Consumer Products
- Energy Transition & Renewables
- Advanced Manufacturing
- Healthcare Services
- AgriTech & FoodTech
- Industrial Tech
- Mobility & Transportation
- Media & Entertainment
- Cybersecurity
- SpaceTech
- Robotics & Automation
- Luxury

## People

- Cairn G. Cross — Co-founder & Managing Director
- Lee E. Bouyea — General Partner and Managing Director
- T.J. Whalen — General Partner & Managing Director

## Questions

### Who runs investment decisions at FreshTracks Capital?

Investment decisions are led by the firm’s three General Partners and Managing Directors: Cairn Cross, Lee Bouyea, and T.J. Whalen. Cross co-founded the firm in 2000 and serves as lead partner on deals including Faraday, Polly, and Mamava. Bouyea joined in 2005 and leads software and technology investments, while Whalen oversees consumer-focused investments drawing on over 25 years of brand and product experience.

### How does FreshTracks source its deals given its Vermont concentration?

FreshTracks benefits from an ecosystem it helped build over two decades. Its limited partners include Vermont foundations, institutions, and successful local entrepreneurs who provide business insight and connections to founders. The firm also cultivates pipeline through community events like Peak Pitch Vermont and its Portfolio Company Summit, creating proprietary visibility into the region’s seed and early-stage talent.

### Does FreshTracks participate in fund commitments or only direct deals?

FreshTracks invests directly in companies, leading rounds that fit its fund size and co-investing where an established lead investor is identified. The firm reserves significant capital for follow-on allocations and does not actively market a fund-of-funds or external-GP commitment strategy.

### What investment stages does FreshTracks typically target?

The firm invests from pre-seed through Series C. It focuses on high-growth companies — particularly those with a material operating presence in Vermont — and will lead rounds at the seed and start-up stages while co-investing in later expansion and growth rounds alongside other institutional investors.

### What is FreshTracks’ known posture on co-investments alongside external GPs?

FreshTracks actively co-invests where an outside party leads a round and the size and thesis align with the firm’s funds. It describes itself as a reliable, non-lead co-investor that provides follow-on capital, governance support, and network access without requiring a board seat when another lead investor is present.

## Related profiles

- [Freshstream Investment Partners](https://altss.com/profile/freshstream-investment-partners)
- [Fresh VC](https://altss.com/profile/fresh-vc)

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Last updated: 2026-08-11T15:06:49.768Z

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