Dennis Murphree of Murphree Venture Partners in Texas participated in the state’s CAPCO Program in 2002:
Venture capitalist Dennis Murphree has joined a small band of fund managers in the country who participate in a little-known but rapidly expanding program called CAPCO.
A handful of states have passed legislation to create programs called CAPCO, an acronym for certified capital companies. These programs spawn investment funds, some as large as $175 million, that are designed to spur economic development.
The program itself is complicated, but it wasn’t difficult for Murphree and his partners to decide they wanted to be involved.