When it comes to the latest trends in women's apparel, there's no better place to shop till you drop than Downtown Chucktown. And if you're searching for the finest threads in Raleigh, look no further than Copper Penny - the Lowcountry's go-to shop for anyone that has a passion for fashion.

We have been dressing women in Raleigh for over 34 years and offer upscale designer collections curated with a Southern eye. Here, women from around the United States discover sophisticated, effortless beauty for every season. Whether you're looking for a sassy new dress to impress that special someone or the perfect outfit for your next vacation, your options are endless at Copper Penny.

With easy-to-find locations close to Raleigh's hottest spots, our curated selection of the newest, most popular women's clothing lines reflects the effortless glamour of Raleigh. Whether you're a tidy professional or a fierce trend-setter, our goal is to help you find the perfect look for your own unique style. With designer brands like CK Bradley and Holst & Lee on hand year-round, finding your new look is easy and fun when you visit Copper Penny.

Our clothing lines give ladies a refreshing mix of one-of-a-kind authenticity with real wearability, allowing them to shine with confidence and style all year long. So, go ahead and spoil yourself - you deserve to look like a million bucks!

Areas Near Our Stores

Find the Perfect Dress to Impress

Diamonds are pretty and all, but honestly? Dresses are a girl's best friend. Dresses are fun, comfortable, and versatile. At Copper Penny, they're also fashionable and cute. We have a huge selection of women's dresses in Raleigh, NC, from stylistic sheath dresses to drop-waist styles that will make your girlfriends jealous.

We offer several styles and shapes from which you can pick. Not sure what style fits best?

It all starts at the waist:

 Boutique Clothing Raleigh, NC
 Boutique Dresses Raleigh, NC

A-Line Waist

These dresses are made to fit your waist and then gradually flare out towards the hem. A-line dresses are excellent for minimizing thighs, hips, and midsections while pulling the eyes to your bust. This style of dress is a great fit for almost any body type. There's a reason why so many brides settle on A-Line dresses for their big day! With plenty of varieties, this is a kind of dress that you can wear again and again.

Shop Now
 Cloths Shop Raleigh, NC

Empire Waist

Like the A-Line style, empire dresses are made to fit through your bust. Rather than creating a distinctly angular shape like the A-Line, the Empire style flows from the bust down. This is another kind of dress that fits many body types. From curvy to apple body shapes, the Empire draws focus to your bust and minimizes everything else. For lovely ladies on the shorter side, this style defines your silhouette, especially if you choose a maxi length dress.

Shop Now
 Cloths For Women Raleigh, NC

Drop Waist

A throwback to the roaring 20's style flapper dresses, Drop Waist dresses look best on lean, athletic bodies that don't have too many curves in the hip area. The key to pulling off a Drop Waist style dress is to ensure that it's not hugging you. This dress is best worn when it is able to hang freely on your body.

Shop Now

Once you know the kind of waist that fits your body type, it's time to find your shape. A few of our most popular dress shapes include:

Fit & Flare Dresses in Raleigh

Any clothing store for women in Raleigh, NC, worth its salt, will have plenty of fit & flare dresses for you to try. This common-shaped dress is one of the most popular on the market, mainly because they look great on every woman, regardless of age or shape. A timeless choice, fit & flare dresses fit through the bodice and flare out just below your hip. This helps develop a balanced, slimming silhouette for most women. If you want to accentuate your best assets and hide everything else, ask our experienced fashionistas to show you some the most popular fit & flare dresses at Copper Penny.
Time to start doing your happy dance! Fit & flare dresses have very balanced proportions, making them a true winner for every body type. Women with athletic builds love this dress for the extra curves. Women with apple-shaped bodies love how fit & flare dresses define their waistlines. Because this dress already looks like an hourglass on the hanger, it will be a natural fit for ladies with such a figure.
view fit & flare dresses
 Clothing Stores Raleigh, NC
 Fashion Stores Raleigh, NC

Shift Dresses in Raleigh

Shift dresses are typically rectangular in shape and tend to be comfy and forgiving since they aren't fitted. Also called a column dress, the shift dress is a great choice for polished professionals needing a conservative, fashionable outfit for work.
These dresses look fabulous on women with athletic, lean shapes and women with an apple-like figure. This kind of dress doesn't work well with a belt, so ladies with an hourglass figure may not be able to show off their curves in a shift. Try pairing this dress with a nice pair of heels for a beautiful new look!
view shift dresses

Wrap Dresses in Raleigh

Wrap dresses are one of the most popular styles on the market, because they give ladies of most shapes and sizes a flattering, fashionable dress option.
If you have an hourglass, apple, or generally curvy body shape, you're going to love wrap dresses. This style of dress offers a natural waist while placing emphasis on your bust. Wrap dresses give you a balanced silhouette and, with a knee-length fit, are great for any type of color or style, both day and nightwear.
view wrap dresses
 Fashion Boutique Raleigh, NC

Timeless Tops for Every Style

Unless you're feeling extra sassy, chances are you're wearing a top at this very moment. Tops are garments that cover the top half of your body. At Copper Penny, we have an endless selection of tops in a wide range of styles - from basic tees to blouses and everything in between. If you're looking for the highest quality women's tops in Raleigh, NC, you just hit the jackpot!

With that said, finding the right top for the right occasion is easier said than done. However, at Copper Penny, we make finding the right top fun. Whether you're looking for a top that makes a statement or you need a classic button-down for a subdued style, we've got your back. We only carry the most popular tops from the best brands and designers around the world.

 Ladies Clothing Raleigh, NC

Here are just of our most popular tops:

 Online Boutique Raleigh, NC

Women's Poplin Tops in Raleigh

Sometimes called broadcloth tops, poplins have classic characteristics and are often woven with an over/under weave. This kind of weave gives more substance to your top while also giving you room to breathe. Poplin shirts are typically soft and smooth, and are great for everyday business attire, some formal occasions, and for certain ceremonies. Sweet and feminine, our Bruna poplin eyelet bib top features ruffles at the sleeves and an eyelet lace yoke at the front. Pair your poplin with your favorite pair of shorts or jeans for a contemporary, relaxed look.

Shop Now
Boutique Raleigh, NC

Women's Wrap Tops in Raleigh

Great for wearing solo or layered over a camisole or tank top, wrap tops are lightweight, versatile, and great for many different occasions. Wrap tops go well with jeans, maxi dresses, and high-waisted jeans or trousers. Our V-Neck Wrap SLV Top by Jayden is uber-popular at Copper Penny and the perfect choice for dressing down or dressing up. The choice is yours!

Shop Now
 Boutique Clothing Raleigh, NC

Women's Off the Shoulder Tops in Raleigh

For a dose of feminine fashion, be sure you add an off-the-shoulder top to your everyday wardrobe. A casual, sexy choice, off-the-shoulder tops have unique necklines that cut across your upper arms and chest, leaving your shoulders bare. The result is a flirty flash of skin, which elongates your neck and gives a relaxed, "daytime casual" look. Our Nola off-the-shoulder top pairs perfectly with shorts or even a flowy skirt and is hand-woven in Spain using Jacquard fabric.

Shop Now
 Boutique Dresses Raleigh, NC

Women's Tank Tops in Raleigh

Who doesn't love a good tank top?! Tank tops are lightweight, versatile, and equally great for lounging in the yard or running errands on weekends. Tank tops lend an air of simplicity to your outfit and can be styled in endless ways. Take our Velvet Heart Victory Tank, for instance. This tank is a refreshing update on our classic sleeveless tank top, complete with fray details and a scoop neck. Throw in the fact that it's machine washable, and you have a wardrobe winner.

Shop Now

Having trouble finding the best top for your size and style? As the most trusted women's clothing boutique in Raleigh, NC, Copper Penny has helped women discover new looks in the Lowcountry for more than two decades. We take pride in providing a personalized, boutique experience for our customers. If you have questions, give us a call or swing by one of our locations. We would be happy to give you our professional opinion.

Until then, here's a quick guide you can follow to help you find the right fit for your women's top in Raleigh:

How to Find the Right Fit for Your Women's Top

When choosing a women's top for your outfit, you have to consider how comfortable, confident, and beautiful you will feel. The best way to feel your best in an outfit is to make sure it fits correctly. To get started, you'll want to take your measurements. For most women's tops, the best areas to focus on are your hips, waist, and chest.

  • Hip Measurements: Measuring your hips is fairly easy. Take your measuring tape and use it to wrap around the widest area of your hips.
  • Waist Measurements: Take your measuring tape and place it at the very top of your hip bone. Wrap it all the way around your body. Try to keep your measuring tape in line with your belly button. For the most accurate measurements, stand up straight and breathe normally.
  • Chest Measurements: For an accurate chest measurement, take the end of your measuring tape and place it on the fullest area of your bust. From there, wrap the tape around your body, under your armpits, and around the blades of your shoulders. Then, wrap the tape tightly from the back of your body to the front, where you started.
Shop Now
 Cloths Shop Raleigh, NC

Need help measuring? Swing by Copper Penny and ask one of our friendly sales associates to help you out! While you're there, don't forget to check out our huge selection of women's tops in Raleigh, NC.

Contact Us

Looking to take your style to the next level? You can also get in touch with a personal stylist directly from our website. With a personal stylist by your side, you can find stunning looks for specific occasions, using comfortable clothing in your favorite colors and cuts. Copper Penny is your one-stop-shop for fashionable, fun, fabulous designer clothing in Raleigh. But don't take our word for it – come see for yourself!

Latest News in Raleigh, NC

NC State Football Announces Annual Team Awards

RALEIGH, N.C. - NC State's football program held its annual awards ceremony Sunday at the Talley Student Center to honor its top performers, leaders, and contributors during the 2023 campaign.The Governor's Award, given to the team's most valuable performer, was none other than Payton Wilson.Wilson, named ACC Defensive Player of the Year, Butkus Award Winner, and the Chuck Bednarik Award winner, helped le...

RALEIGH, N.C. - NC State's football program held its annual awards ceremony Sunday at the Talley Student Center to honor its top performers, leaders, and contributors during the 2023 campaign.

The Governor's Award, given to the team's most valuable performer, was none other than Payton Wilson.

Wilson, named ACC Defensive Player of the Year, Butkus Award Winner, and the Chuck Bednarik Award winner, helped lead the Wolfpack defense to some of the top marks in all college football in 2023.

Kevin "KC" Concepcion took home a trio of awards, earning the Phillip Rivers Freshman of the Year Award, Garry Rowe Receiver of The Year Award, and the Torry Holt Award for the Offensive Most Valuable Player.

The ACC Rookie and Offensive Rookie of the year had a freshman season to remember for the Wolfpack as he went on to set the NC State football record for a freshman for most receptions (64) and touchdown catches (10)

Named to the All-ACC Second Team, he turned in three 100-yard receiving games in 2023 and is the only player in the FBS with 750+ receiving yards and 250+ rushing yards this season. He's the first FBS player to do that since 2021 and the first ACC player since 2015.

He ranks second in the ACC in TD receptions with 10 – the top mark in the FBS for a freshman (t14th overall). The true freshman ranks third in the ACC in receptions per game and ranks second nationally among freshmen.

Joe Shimko, Davin Vann, and Aydan White all won awards for the second consecutive year. Shimko took home the Predominant Impact in the Community Award, in addition to winning the Patrick Mannelly Award for the nation's best long snapper on Saturday.

Vann was named defensive lineman of the year after winning the Cary Brewbaker Award, and White earned the DeWayne Washington Award for Defensive Back of the Year.

Here's a look at the other award recipients:

Alpha Rising Award – Most Improved Player: Jacarrius PeakPredominant Impact in the Community Award: Joe ShimkoKen McNeill Iron Wolf Award – Comeback from Injury:Savion JacksonWolfpack Spirit Award – Special Contributor to the Program: Adam ClarkHungry Wolf Award – Nutritional Improvement: Isaiah ShirleyLeader of the Hunt Award – Commitment to Nutrition: Payton WilsonOffensive Scout Team Player of the Year: Coleson FieldsDefensive Scout Team Player of the Year: Isaiah ShirleySpecial Teams Scout Team Player of the Year:Keyaan Abdul-RahimMichael J. Hardy Award – Player with Winning Attitude: Sean BrownAl Michaels Award – Team Before Self: Brennan ArmstrongBo Rein Award – Vital Contribution in an Unsung Role: Red HibblerBob Warren Award - Integrity and Sportsmanship: Savion JacksonTed Brown Award - Offensive Back of the Year: Brennan ArmstrongGary Rowe Award - Receiver of the Year: Kevin "KC" ConcepcionJim Ritcher Award - Offensive Lineman of the Year:Jacarrius PeakBill Cowher Award – Linebacker of the Year: Payton Wilson

Wesley Grimes on NC State commitment: 'I'm going to give everything I have'

New NC State receiver commitment Wesley Grimes discusses his commitment to NC State, future with the Wolfpack and more.247Sports Embed ResourceWide receiver is a significant need for NC State in the transfer portal. The Wolfpack helped address the position when it landed a commitment from former Wake Forest playmaker Wesley Grimes.Grimes, a former four-star recruit who has two years of eligibility, spoke about his d...

New NC State receiver commitment Wesley Grimes discusses his commitment to NC State, future with the Wolfpack and more.

247Sports Embed Resource

Wide receiver is a significant need for NC State in the transfer portal. The Wolfpack helped address the position when it landed a commitment from former Wake Forest playmaker Wesley Grimes.

Grimes, a former four-star recruit who has two years of eligibility, spoke about his decision with Pack Pride.

To read this full article and more, subscribe now —

SALE: 50% off Annual VIP

Get access to this article and all of the in-depth coverage from the 247Sports Network with this special offer.

50% off Annual VIP

Already a subscriber? Login

NC State transfer commit Zeke Correll brings a 'born center' to Raleigh

With the transfer additions coming in hot and heavy, we tapped Notre Dame writer Tim Prister of Irish Illustrated for his analysis of what NC State is getting in Zeke Correll.

R. Cory SmithDec 11th, 5:00 AM

Payton Wilson on winning Butkus Award Its been a dream of mine">

RALEIGH, N.C. -- NC State had a wild week overall with five new commitments, with three coming from the transfer portal, one coming from a four-star high school senior and another from a JUCO prospect. But one of the most impactful players overall comes from Notre Dame, with center/guard Zeke Correll announcing he'll play his final season with the Wolfpack.

Stats are few and far between for offensive linemen, but Correll has only been credited with three sacks in his career in more than 2,000 career snaps -- including zero sacks allowed in 2023. Over the past three years, he's graded out above 71 by Pro Football Focus, with his highest pass-blocking grade ever coming this past year with a 78.0. If there's one area where he needs to improve, its against the run with a grade of 57.4 this past year.

With the transfer additions coming in hot and heavy, we tapped Notre Dame writer Tim Prister of Irish Illustrated for his analysis of what NC State is getting in Correll. Here's the scouting report he passed along after scouting Correll from playing in the All-American Bowl as a high schooler to suiting up with the Irish over the past five years.

To read this full article and more, subscribe now —

SALE: 50% off Annual VIP

Get access to this article and all of the in-depth coverage from the 247Sports Network with this special offer.

50% off Annual VIP

Complete Box Score: No. 3 NC State 80, Liberty 67

247Sports Embed ResourceRALEIGH, N.C. -- The No. 3 NC State women's basketball team came away with a 80-67 win over Liberty that was much tighter without star Saniya Rivers in the rotation. Zoe Brooks stepped up in her starting spot with a triple-double -- the second in program history -- with 14 points, 11 rebounds and 10 assists along with three steals and three blocks to lead the Pack to a tight victory to move to 10-0. Brooks' triple-double was the first since Tynesha Lewis in 2001.Aziaha James led the way with 18 points wh...

247Sports Embed Resource

RALEIGH, N.C. -- The No. 3 NC State women's basketball team came away with a 80-67 win over Liberty that was much tighter without star Saniya Rivers in the rotation. Zoe Brooks stepped up in her starting spot with a triple-double -- the second in program history -- with 14 points, 11 rebounds and 10 assists along with three steals and three blocks to lead the Pack to a tight victory to move to 10-0. Brooks' triple-double was the first since Tynesha Lewis in 2001.

Aziaha James led the way with 18 points while Madison Hayes and Mimi Collins both tallied 15 points with Collins also collecting a double-double with 10 rebounds. Laci Steele also tacked on 10 points off the bench to give State five players in double figures scoring. Here's a full look at the stats from the Wolfpack's 10th straight win to start the season with just two more games remaining in non-conference play.

Page 1 of 26

CURRENT SCORE

Liberty 67

NC State 80

December 10, 2023 • Reynolds Coliseum

S T A T I S T I C S

Page 2 of 26

Official Box Score

Liberty vs NC State

Game Totals at 00:00 (4th Period)

December 10, 2023 at Reynolds Coliseum

Liberty 67

No. Player S Pts FG 3FG FT OR DR TR PF A TO Blk Stl Min +/-

00 HODGES, JORDAN G 5 2-4 1-2 0-0 0 1 1 4 7 0 0 1 24 -4

12 BOONE, ASIA G 17 6-12 3-8 2-2 0 2 2 4 1 4 0 1 32 -13

22 BAILEY, JORDAN F 0 0-8 0-3 0-0 1 1 2 3 2 2 0 0 12 -10

23 HESS, EMMA G 15 5-13 3-6 2-2 0 6 6 1 0 3 0 1 32 -11

31 SMUDA, BELLA C 14 6-9 0-0 2-2 4 11 15 1 1 2 6 0 32 -5

04 ACIN, CLAUDIA G 0 0-2 0-2 0-0 1 2 3 1 1 3 0 0 7 1

10 MOORE, BROOKE G 4 1-6 0-1 2-2 2 2 4 1 0 0 1 0 18 -8

14 HOWARD, EMILY C 2 1-3 0-0 0-0 1 0 1 2 0 0 1 0 8 -7

24 WIGAL, ELLA G 3 1-2 1-2 0-0 0 3 3 3 0 1 0 0 7 -7

25 AEGISDOTTIR, ELISABETH F 7 3-6 1-3 0-0 3 0 3 3 3 1 0 0 28 -4

TEAM 1 2 3 0 0

TOTALS 67 25-65 9-27 8-8 13 30 43 23 15 16 8 3 200

Shooting By Period

Period FG FG% 3FG 3FG% FT FT%

1st Half 12-38 32% 5-16 31% 2-2 100%

2nd Half 13-27 48% 4-11 36% 6-6 100%

Game 25-65 38.5% 9-27 33.3% 8-8 100.0%

Last FG: 4th-01:54

Largest lead: By 2 at

Technical Fouls: None.

NC State 80

No. Player S Pts FG 3FG FT OR DR TR PF A TO Blk Stl Min +/-

01 BALDWIN, RIVER C 8 4-12 0-0 0-0 5 5 10 4 0 1 2 2 33 15

02 COLLINS, MIMI F 15 4-14 2-3 5-8 5 5 10 3 1 1 0 0 34 18

10 JAMES, AZIAHA G 18 7-16 4-9 0-2 0 2 2 3 2 2 0 2 28 5

21 HAYES, MADISON G 15 5-12 3-9 2-4 3 5 8 2 2 2 0 1 35 18

35 BROOKS, ZOE G 14 2-11 0-2 10-15 6 5 11 2 10 2 2 3 36 15

11 COX, MADDIE F 0 0-0 0-0 0-0 0 1 1 0 1 0 0 0 10 -9

24 STEELE, LACI G 10 4-8 2-3 0-0 1 0 1 2 1 0 0 1 20 7

42 COLLIER, MALLORY C 0 0-0 0-0 0-0 0 0 0 0 0 0 0 0 4 2

TEAM 2 4 6 0 0

TOTALS 80 26-73 11-26 17-29 22 27 49 16 17 8 4 9 200

Shooting By Period

Period FG FG% 3FG 3FG% FT FT%

1st Half 14-40 35% 7-15 47% 2-4 50%

2nd Half 12-33 36% 4-11 36% 15-25 60%

Game 26-73 35.6% 11-26 42.3% 17-29 58.6%

Last FG: 4th-02:14

Largest lead: By 14 at

Technical Fouls: None.

Game Notes:

Officials: Carla Fountain, John Capolino, Brandon

Enterline

Attendance:

Start Time: 07:00 PM

Score 1st 2nd 3rd 4th TOT

LIB 15 16 16 20 67

NCSU 24 13 23 20 80

LIB led for 1:38. NCSU led for 37:43.

Game was tied for 0:0.

Times tied: 1 Lead Changes: 1

Points LIB NCSU

In the Paint 24 24

Off Turns 4 15

2nd Chance 9 15

Fast Break 4 26

Bench 16 10

Per Poss 0.944

29/71

1.127

35/71

Page 3 of 26

Official Box Score

Liberty vs NC State

First Half Statistics Only

December 10, 2023 at Reynolds Coliseum

Liberty 31

No. Player S Pts FG 3FG FT OR DR TR PF A TO Blk Stl Min +/-

00 HODGES, JORDAN G 0 0-0 0-0 0-0 0 0 0 2 2 0 0 0 6 -1

04 ACIN, CLAUDIA G 0 0-2 0-2 0-0 1 2 3 1 1 3 0 0 7 1

10 MOORE, BROOKE G 4 1-6 0-1 2-2 2 2 4 0 0 0 1 0 13 -3

12 BOONE, ASIA G 8 3-7 2-5 0-0 0 2 2 0 0 2 0 1 15 -3

14 HOWARD, EMILY C 0 0-1 0-0 0-0 1 0 1 0 0 0 1 0 4 -2

22 BAILEY, JORDAN F 0 0-7 0-2 0-0 1 0 1 1 1 1 0 0 8 -8

23 HESS, EMMA G 3 1-6 1-3 0-0 0 3 3 0 0 1 0 1 14 -9

24 WIGAL, ELLA G 3 1-2 1-2 0-0 0 2 2 0 0 1 0 0 5 -3

25 AEGISDOTTIR, ELISABETH F 5 2-2 1-1 0-0 2 0 2 0 2 0 0 0 12 2

31 SMUDA, BELLA C 8 4-5 0-0 0-0 3 2 5 1 0 0 3 0 16 -4

TEAM 0 0-0 0-0 0-0 1 2 3 0 0 0 0 0 0 0

TOTALS 31 12-38 5-16 2-2 11 15 26 5 6 8 5 2 100 0

Shooting By Period

Period FG FG% 3FG 3FG% FT FT%

1st Half 12-38 32% 5-16 31% 2-2 100%

Game 25-65 38.5% 9-27 33.3% 8-8 100.0%

Last FG Half: LIB 2nd-00:40

NC State 37

No. Player S Pts FG 3FG FT OR DR TR PF A TO Blk Stl Min +/-

01 BALDWIN, RIVER C 4 2-5 0-0 0-0 2 4 6 1 0 1 2 1 16 4

02 COLLINS, MIMI F 7 3-7 1-1 0-2 3 1 4 1 0 0 0 0 14 11

10 JAMES, AZIAHA G 10 4-10 2-5 0-0 0 1 1 2 2 2 0 1 16 3

11 COX, MADDIE F 0 0-0 0-0 0-0 0 1 1 0 1 0 0 0 6 -5

21 HAYES, MADISON G 6 2-7 2-6 0-0 1 3 4 1 1 1 0 0 15 11

24 STEELE, LACI G 8 3-6 2-2 0-0 1 0 1 2 1 0 0 0 12 -1

35 BROOKS, ZOE G 2 0-5 0-1 2-2 3 3 6 1 4 1 2 0 16 8

42 COLLIER, MALLORY C 0 0-0 0-0 0-0 0 0 0 0 0 0 0 0 4 2

TEAM 0 0-0 0-0 0-0 1 2 3 0 0 0 0 0 0 0

TOTALS 37 14-40 7-15 2-4 11 15 26 8 9 5 4 2 100 0

Shooting By Period

Period FG FG% 3FG 3FG% FT FT%

1st Half 14-40 35% 7-15 47% 2-4 50%

Game 26-73 35.6% 11-26 42.3% 17-29 58.6%

Last FG Half: NCSU 2nd-01:59

Game Notes:

Officials: Carla Fountain, John Capolino, Brandon

Enterline

Attendance:

Start Time: 07:00 PM

Score 1st 2nd 3rd 4th TOT

LIB 15 16 16 20 67

NCSU 24 13 23 20 80

Points from (This Period) LIB NCSU

In the Paint 12 10

Off Turns 2 8

2nd Chance 7 6

Fast Break 0 7

Bench 12 8

Not a VIP subscriber to Pack Pride? Sign up nowto get access to everything R. Cory Smith, Michael Clark and the entire Pack Pride team have to offer on all things NC State and access to the No. 1 site covering the Wolfpack.

Sign up for FREE text alerts to get breaking news on commitments, decommitments, transfers, injuries, coaching changes and much more with our NEW text alert system available to all registered users and VIP subscribers. Click Here to become a FREE registered user and Click Here if you are already a VIP subscriber.

Want the latest news on NC State delivered right to your email? Subscribe to the Pack Pride newsletter here.It is free and a great way to get daily updates on NC State football, basketball, baseball, recruiting and more delivered straight to your inbox.

Inside Raleigh investor's latest $20M fund

Raleigh innovation investor Oval Park Capital is more than $7 million of the way toward closing its next fund: A planned $20 million vehicle focused on "deep tech" startups.The fund, called OPC Opportunity Fund I LP, has raised $7.4 million from 22 investors, and is still soliciting capital. But It's been a tough process, Oval Park founder Justin Wright-Eakes said.Investors aren't just looking for returns on paper. "They're looking for the amount of cash you're distributing back to your investors," he said....

Raleigh innovation investor Oval Park Capital is more than $7 million of the way toward closing its next fund: A planned $20 million vehicle focused on "deep tech" startups.

The fund, called OPC Opportunity Fund I LP, has raised $7.4 million from 22 investors, and is still soliciting capital. But It's been a tough process, Oval Park founder Justin Wright-Eakes said.

Investors aren't just looking for returns on paper. "They're looking for the amount of cash you're distributing back to your investors," he said.

As it can take years to really start sending capital back, it's "limbo land" for startup investment firms like Oval Park, which started sponsoring its own deals through special purpose vehicles in 2018.

"We're ecstatic about how our companies are performing, but the market conditions are extremely challenging," Wright-Eakes said. "The thing that keeps me up at night is the thought that some of our companies could hit all their milestones ... and still not be able to raise money."

Justin Wright-Eakes, managing partner of Oval Park Capital

Justin Wright-Eake

So far, Wright-Eakes said there have been no "casualties" in the portfolio, but he predicts tough months ahead for startups across the board. He hopes to see the market normalize next year with falling interest rates.

In the meantime, the latest fund's structure is "de-risked" in that some of the capital will go toward companies already in its portfolio, where it holds board seats and years-long relationships with founders.

"Our belief is that it will have similar returns to a venture fund, but with significantly lower volatility," Wright-Eakes said.

The plan is to deploy the cash in follow-on investments in its top performing portfolio companies as well as investments in new startups. The thesis will be the same: “Deep technology startups operating in undercapitalized markets and solving mission critical global problems.”

Wright-Eakes said the money, disclosed in a securities filing last week, is just the first closing of a planned $20 million fund.

Oval Park last closed on a fund in 2021. The firm's portfolio includes several Triangle companies, such as Nala Membranes, Phinite and Natrx.

Wright-Eakes founded Oval Park after spending years working at hedge funds in New York City. He returned to the Triangle to start his own firm in 2015. He has said most investments are the product of referrals, but that he does take cold inquiries from entrepreneurs through Oval Park’s website.

Buttigieg, Cooper tout North Carolina's $1.09 billion grant for S-Line rail project

Funding has been approved for the first leg of a passenger rail project in North Carolina, President Joe Biden and U.S. Department of Transportation officials announced Friday.U.S. Secretary of Transportation Pete Buttigieg joined Gov. Roy Cooper in Raleigh on Monday morning to promote a historic bipartisan investment in transportation.North Carolina will receive a $1.09 billion discretionary federal grant to design and build the first segment of the S-Line, a high-performance passenger rail line."This billion dolla...

Funding has been approved for the first leg of a passenger rail project in North Carolina, President Joe Biden and U.S. Department of Transportation officials announced Friday.

U.S. Secretary of Transportation Pete Buttigieg joined Gov. Roy Cooper in Raleigh on Monday morning to promote a historic bipartisan investment in transportation.

North Carolina will receive a $1.09 billion discretionary federal grant to design and build the first segment of the S-Line, a high-performance passenger rail line.

"This billion dollars of funding really takes down one of the biggest obstacles to the development of this route. There's always more pieces that go into it just as there are some pieces that we've already done through other grant programs to lay the groundwork for it. But with this, that really key connector comes into place that makes so many other things possible," Buttigieg said Monday.

“This is great news and underscores our successful efforts to build a transportation system that works for all North Carolinians,” Cooper said in a news release last week. “The S-Line is a critical project that will provide fast, frequent and reliable service connecting North Carolina, Virginia and the Northeast. It extends our already popular passenger rail service between Charlotte and Raleigh and provides people, especially those in underserved areas, a safe, convenient and inexpensive way to get where they’re going.”

The Federal Railroad Administration on Friday also awarded the NCDOT seven grants totaling $3.5 million as part of the Corridor Identification and Development program.

Those seven grants will be used to begin the planning process for developing passenger services on rail corridors between:

The news comes as the NC By Train passenger rail service is experiencing record-breaking ridership, according to the governor's office. Helping drive the increased ridership are many new state services, including the expansion of the passenger rail service to five daily round trips between Charlotte and Raleigh.

“Offering more passenger rail services along the S-Line will bring even greater benefits to North Carolina for decades to come,” NCDOT’s Rail Division director Jason Orthner said in the news release. “Adding to our existing passenger rail service will save people more time and money, make travel more efficient and comfortable, and will help reduce congestion on our highways.”

The S-Line rail corridor is a freight line, owned by CSX, that connects Richmond and Raleigh on the federally-designated Southeast Corridor. Virginia has already acquired the line in that state from CSX, and North Carolina officials are working to finish a deal to purchase the corridor in North Carolina. Once the Raleigh to Richmond program is complete, the passenger rail service will save more than an hour of travel time between the two cities. The service will also allow much more frequent and reliable train service and make the trip to Washington D.C. competitive with driving times.

Disclaimer:

This website publishes news articles that contain copyrighted material whose use has not been specifically authorized by the copyright owner. The non-commercial use of these news articles for the purposes of local news reporting constitutes "Fair Use" of the copyrighted materials as provided for in Section 107 of the US Copyright Law.