The Maryland Venture Fund has fresh capital to make investments.
The TEDCO-run investment arm closed on $25 million for the Maryland Innovation Opportunity Fund I, according to a press release. The money comes from Maryland’s State Retirement and Pension Fund.
The state-backed fund, which focuses on tech, healthcare and life sciences, was transferred under leadership of TEDCO in 2015. It was then retooled as a new team was hired. It now includes Andy Jones as Managing Director, as well as Parag Sheth, Phil Jung and Moss Amer. The new capital will be “sector and stage agnostic,” meaning it won’t be limited to a particular category of tech company or stage.
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