Maryland Venture Fund

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Maryland Venture Fund

  1. 1. Maryland Venture Fund Frank Dickson frdickson@choosemaryland.org 410-767-6383
  2. 2. Challenge Investment Program The Audience Seed-Stage Companies •Less than $1MM in revenues •Less than 25 employees •Technology driven & seeking VC$ in future •Maryland based
  3. 3. Challenge Investment Program The Deal •Initial investment of $50,000; maximum $150,000 •Additional investments are milestone driven •Requires a 1:1 co-investment match •Contingent royalty repayment agreement Royalty in form of 2% of revenues over $500,000 Royalty in form of 1% payment of equity raised over $500,000 Royalty payments capped at three times investment 1:1 private sector co-investment match 10 year maximum term
  4. 4. Enterprise Investment Fund The Audience • Emerging High Technology Companies • Seeking $1,000,000+ of private equity capital • Patented or proprietary products Biotech Telecommunications Information technology Life Sciences Advanced Materials
  5. 5. Enterprise Investment Fund The Deal •Enterprise can invest $150,000 to maximum of $500,000 •Form of investment: •Equity – preferred stock •Convertible debt •Term of no more than 15 years •Holding of no more than 25% of equity
  6. 6. Portfolio Companies
  7. 7. Contacts •www.choosemaryland.org •Mid-Atlantic Venture Association - www.mava.org Venture Fairs: • Grubstake • Capital Connection • Early Stage East
  8. 8. Thank You Frank Dickson frdickson@choosemaryland.org 410-767-6383

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