Thomas S. Dann, managing director of equity funds for the Maryland Venture Fund, says the goal of InvestMaryland is to “enrich the whole early-stage ecosystem,” as the Baltimore Business Journal reported.
When it comes to investing state money, Dann said it’s not just about giving deserving companies money but making an impact. A fund investment has to not only help out the company receiving the money, but have a ripple effect through the industry. Dann calls these high-impact investments — companies that can turn a modest investment into significant benefits both for the company and the state’s economy, or that can strengthen Maryland’s ties to other states’ economies. [more]
As Technically Baltimore reported last week, InvestMaryland is an early-stage business competition that will award three funding prizes worth $100,000 apiece in “life sciences and high-tech industries.”
According to the Baltimore Business Journal, InvestMaryland is “a program overseen by the” Maryland Venture Fund.
The Maryland Venture Fund is a state-funded equity fund for young technology and life sciences companies. InvestMaryland, a program overseen by the fund, in March raised $84 million through an insurance tax auction to invest in seed and early-stage companies in Maryland. This fall, the fund will begin announcing recipients of InvestMaryland awards. [more]
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