Maryland Reviews Proposals from 37 Private Venture Firms for InvestMaryland Program

6/28/12


Following a meeting of the Maryland Venture Fund Authority, Maryland Department of Business and Economic Development (DBED) Secretary Christian S. Johansson and Maryland Venture Fund Authority Chairman Peter Greenleaf issued the following statement on the Authority?s progress in selecting private venture capital firms that will receive funds through the State?s InvestMaryland program.

?Today, we took another significant step in moving InvestMaryland forward by reviewing proposals from 37 private venture firms that applied to manage the available funds, and approved a select number of those for further review. Those selected will now undergo a more detailed due diligence process that will be conducted by our partner, Altius Associates. We plan to notify all firms of their application status in two weeks. We look forward to working with the selected firms and continuing our progress with InvestMaryland, which is helping to position Maryland as a national leader in innovation and entrepreneurship.?

InvestMaryland is an initiative created by Governor Martin O?Malley and passed by the General Assembly last year to invest in the State?s innovative companies. In March, $84 million was raised for the program, which is the largest venture capital investment in history by the State. The program is being implemented through the Venture Fund Authority and DBED.

Stories you Need to Know

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.

Baltimore Business Spotlight

Feature Your Business Here

Connect with these Baltimore Professionals on LinkedIn

  • Edwin Warfield

    Editor in Chief, Warfield Digital

    Connect
  • Jean Halle

    Independent Consultant

    Connect
  • Larry Lichtenauer

    President of Lawrence Howard & Associates

    Connect
  • Newt Fowler

    Partner at Womble Carlyle, LLP

    Connect
  • David Crowley

    Owner at Develop DC

    Connect
  • Carolyn Stinson

    Stinson Marketing Group

    Connect