Archives from month » January, 2010

State Doles Out New Round of Venture Money to CAPCO Funds

The Texas CAPCO program is distributing millions of dollars to venture capital firms:

The State of Texas last month began distributing a new round of $200 million in state-backed venture capital to nine firms aiming to invest it in early-stage Texas companies.

Texas is one of at least 10 states that uses so-called certified capital companies, or capcos, to foster business development.

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National Coalition for Capital Applauds Tennessee Legislature for Passing “One of a Kind” Small Business Investment Legislation

Tennessee Small Business Investment Company Credit Act was passed and was supported by the National Coalition for Capital:

The National Coalition for Capital applauds the 106th Tennessee General Assembly for its overwhelming bi-partisan support of HB 2085 and SB 1203 – the Tennessee Small Business Investment Company Credit Act (TSBICCA).

The House version of the bill passed 94-0 (1 pass) and in the Senate, it garnered similar support – passing 30 –0.

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Innovative Venture Capital Program to Bring Millions of Dollars to Rural Missouri; CAPCO Program

Missouri’s rural and agricultural communities could be receiving millions of dollars through the state’s CAPCO Program:

The Certified Capital Company (CAPCO) program, a highly successful economic development initiative aimed at creating jobs and fueling entrepreneurial activity in Missouri, could bring $25 million in venture capital funding to the state’s rural and agricultural communities. The program was first adopted in 1997 and is up for renewal in the state legislature.

Senator Joe Maxwell, (D – Mexico), joined by Senator Franc Flotron (R-St. Louis), Representative Catherine Hanaway (R-St. Louis) and Representative May Scheve (D-Affton), has introduced legislation this year to expand the CAPCO program for an additional $10 million dollars a year for ten years. As part of the deal, $25 million of the bill’s total $100 million would be designated for Missouri rural, agricultural businesses.

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