The new Borealis Granite Fund will amplify a start-up ecosystem in the state that already has seen several start-up challenges, including MYPN, Venture X and the Tech Out start-up challenge coming this fall.

Nanocomp Technologies Inc., for example, won the second annual Start-Up NH Business Plan competition.

Matt Pierson, an investor in Nanocomp who serves on its board, said, “Nanocomp really got its start by winning the PSNH-sponsored business plan six years ago. That $130,000 of seed capital has now grown to well over $25 million invested in the company, by the end of this year, about 100 jobs created, and really launched a new business and industry in the state.”

“We set out to say how can we replicate that but in a sustainable manner,” said Pierson, who also is a founding partner in 10X Venture Partners.

Nanocomp Technologies Inc. creates nonwoven yarn and sheet material from long carbon nanotubes. Its Nanoyarn and NanoFelt products were named the 2006 New Hampshire High Technology Council’s Product of the Year and it is a supplier to the U.S. Department of Defense.

Nanocomp, of Merrimack, announced last month that DuPont joined its $25 million Series C investment round, which is expected to close later this year. Nanocomp will use the funding to expand its manufacturing capacity and underwrite market expansion, as it completes transition from Concord into its new, volume production facility in Merrimack. DuPont’s Protection Technologies business unit will use Nanocomp technology to advance its ballistics protection and core structure applications.

Companies backed by Borealis include Newforma and Scribe Software.

“You can build great companies in New Hampshire ... but the outside world doesn’t always appreciate that,” Borealis Ventures Managing Director and co-founder Phil Ferneau said.

“The (Borealis) Granite Fund is an additional next step for New Hampshire’s ecosystem,” Ferneau said. “It’s an important mechanism and opportunity to bring additional capital into this marketplace and it’s going to create great things.”

Manchester-based Newforma, a Borealis Ventures portfolio company, now has 130 employees, about half in New Hampshire, its chief executive officer Ian Howell, said.

“It (Newforma) is a global company with a world headquarters in Manchester, N.H.,” he said, “all because of seed investment and some innovation and vision by the Borealis team.”

Newforma’s building design and construction management software is being used on some of the most advanced buildings in the world, including the Mile High tower in Dubai and Apple headquarters in California. “We’ve captured some of the largest of those firms who are leading innovators in the industry,” Howell said.

Newforma has grown to 55,000 users and 700,000 projects, he said.

Howell said Borealis Venture Managing Director Jesse Devitte has been an active board member of Newforma. “Hands-on help,” he said.

“The business mission is real simple,” Howell said. “We’ve doubled the business in the last two years, so we’re a $20 million company this year and we want to double it again by 2014,” Howell said.

dpaiste@unionleader.com