8/16/2023 0 Comments Venture fund definition![]() ![]() SSBCI/MSF investment must be catalytic to “cause and result in” a minimum 1:1 private financing.SSBCI/MSF investment must be pari passu with all other LP’s and not subject to subordination.General partner of the Fund must have financial risk in the Fund of at least 1% (or generally accepted market standards).Venture firm does not need to be headquartered in Michigan but must have at least one fund managing/general partner (investment decision makers with carry) with full-time Michigan residence.Only funds which do not engage in lobbying activities or provide political contributions can be considered for investment.The Fund must be able to show how they will create jobs and commercialize product(s) within one or more of the competitive edge technology sectors where Michigan has a distinct competitive advantage to drive sustained, long-term economic growth as well as tools and sustainment programs in sectors that drive regional impact.Īdditional requirements of the SBVCP include but are not limited to the following: The MEDC’s statewide and regional impact focus industries include Mobility and Automotive Manufacturing, Advanced Manufacturing, Engineering, Design and Development, Life Sciences and Medical Devices, Technology, Professional and Corporate Services, Agribusiness, Tourism and Outdoor Recreation Industry, Logistics, Financial Services, other Manufacturing, or any other innovative technology sectors that drives regional impact. ![]() SBVCP will focus on support of technology based small businesses aligned with the MEDC Strategic Plan. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |