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Durango, Colorado–(business wire) — Today, the Greater Colorado Venture Fund (GCVF), in partnership with the Colorado Venture Authority, announced the closing of GCVF Fund II for $25 million. GCVF will deploy the initial investment from Fund II over the next five years. GCVF Fund I raised $17.5 million in 2018 and has since made 29 investments and 5 exits. The Colorado Venture Authority recently released new information about statewide efforts to provide greater access to venture capital.
The Greater Colorado Venture Fund’s core investment theme is to identify, invest in and support founders in the often overlooked rural market in rural Colorado. GCVF is industry agnostic and focused on seed stage companies. Similar to Fund I, Fund II he invests in 25-30 companies with an average initial check size of about $500,000. Our investment focus in rural Colorado is a team of founders and entrepreneurs in the Outdoor Recreation, B2B SaaS (Govtech, Cybersecurity), Energy, Aerospace, CPG and Agtech industries.
“This exciting partnership builds on our continued commitment to boosting Colorado’s strong economy, bringing high-paying jobs to Colorados in our rural communities, and supporting small businesses,” said Gov. Jared Polis. said. “As a business person, he knows that every dollar counts when building a business from scratch, so he is proud of his bold commitment to supporting innovative entrepreneurs in Colorado. I am thinking.”
“The driving force behind my first job at GCVF was the Colorado Venture Capital Authority. Allocating real money to secure it, said Marc Nager, co-founder of the Greater Colorado Venture Fund.
“We continue to be inspired by the quality of founders we find in Colorado, especially as we emerge from the world of COVID. We redouble our insistence on prioritizing and lifestyles to create greater personal and financial results for ourselves and the communities they belong to,” Mark added.
With less than 1% of venture capital invested in Colorado going to businesses in rural areas, GCVF is well positioned to drive meaningful change in underserved and overlooked markets. It’s helpful. Over the past four years, they have invested over $14.5 million directly in companies, and in total he has helped raise nearly $50 million. New business starts in the US have declined by nearly 60% since the early 1990s. Over 59% of all U.S. counties are in a state of economic decline, and over 50% of all U.S. economic growth since the 2008 recession is limited to just 20 of 3,007 counties. . In Colorado, 83% of “rural” counties have median income below the state average, and all of Colorado’s distressed counties are considered rural.
“Entrepreneurs move rural communities and the world forward in incredible ways. GCVF has demonstrated that opportunities exist in the rural market to deliver competitive returns for venture capital investors. Techstars Nicole Glaros, Former Chief Investment Strategy Officer and Advisor to GCVF, said:
“Rural Colorado has a long history of pushing past its weight when it comes to entrepreneurial success stories. Built in rural Colorado and demonstrating long-term benefits to local communities and beyond, GCVF exists to support great entrepreneurs in rural Colorado and promote national excellence. We will provide a playbook that we can share with the rest of the world,” said Corey Finney, co-founder of Greater Colorado Venture Fund.
Cloudrise, based in Grand Junction, Colorado, is an example of the impact GCVF has on businesses and communities. Rob Eggrebrecht and his co-founder Hillary Laird intentionally moved to Grand Junction in 2019 when he started Cloudrise. Laird said: We attract the best talent, keep costs right, and enjoy a great quality of life unlike anything you’ve experienced in your career. From design assistance to true value-added investors like GCVF, we ask ourselves why founders with a choice would do it any other way. ”
About the Greater Colorado Venture Fund
The Greater Colorado Venture Fund (GCVF) is a pioneer in rural America venture capital by accelerating entrepreneurial action and expanding opportunities to build sustainable communities in rural America. GCVF invests in Colorado companies with high growth potential located outside the Colorado Front Range urban corridors.
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