The investment arm of the Maryland Technology Development Corporation (TEDCO) is raising money for a new Veterans Opportunity Fund to invest in business owned by veterans of the U.S. military. According to a press release, the fund “will focus on technology, business services, manufacturing, retail, transportation, hospitality and healthcare.”
TEDCO Capital Partners (TCP) is now raising $30 million for the Veterans Opportunity Fund. TCP is the for-profit fund manager within TEDCO, which uses taxpayer dollars as the investment capital into startups located in the state. In addition to the Veterans Opportunity Fund, TCP oversee three other funds, including the Propel Baltimore Fund for early-stage startups located within, or willing to relocate to, Baltimore city.
U.S. military veteran Stuart M. Sutley and retired Major Gen. Genaro Dellarocco will act as the new fund’s general partners.-30-