The Colorado Venture Capital Authority (VCA) was established in 2004 to make seed- and early-stage capital investments in businesses. The VCA was allocated $50 million in premium tax credits, which it subsequently sold to insurance companies. The VCA selected fund manager High Country Venture, LLC, and established Colorado Fund I and Colorado Fund II, each with approximately $25 million.
High Country Venture is independently operated and generally makes funding decisions. State approval is limited to ensuring that businesses receiving funding meet minimum specified requirements. The minimum and maximum investment size generally ranges from $250,000 – $3.375 million. Fund I has been closed, and Fund II is fully deployed (as of December 2018). Neither fund is making investments.
Per the VCA Statute, the VCA is intended to manage the money as an evergreen fund; meaning, that the distributions received from Colorado Funds I & II are to be reinvested in future venture capital funds that meet the requirements of the VCA Statute. Accordingly, in 2018, the VCA invested proceeds from CO Funds I & II into a third fund, the Greater Colorado Venture Fund.
To find out more, please go to the Greater Colorado Venture Fund website.
VENTURE CAPITAL AUTHORITY REQUEST FOR INFORMATION
VCA Annual Reports