The Maryland Venture Fund, started in 1994, is a state-funded seed and early-stage equity fund. The Fund is an evergreen fund and receives annual allocations from the Maryland State Legislature. The Fund makes direct investments in technology and life science companies and indirect investments in venture capital funds. Approximately 60 percent of the Fund is invested in technology companies in the areas of software, communications, and IT security, and 40 percent of the Fund is invested in life sciences companies in the areas of therapeutics, medical devices, and diagnostics. The Fund has invested as a limited partner in a total of nine venture funds since 1994.
The Maryland Venture Fund has established a track record of investing in some of the most promising technologies that the state has to offer. The Fund has two investment vehicles: the Challenge Investment Program and the Enterprise Investment Fund. Combined, the fund has invested over $45 million since 1994 in more than 175 companies. Some of the other financial and economic development accomplishments of the Fund include:
- Fund has returned in excess of $57 million to the State;
- Companies in the portfolio have attracted over $1 billion in private equity;
- Average salary is $70,000 – compared to the State average of $36,000;
- More than 1,500 jobs have been created;
- Estimated annual rate of return of 20 percent.
Beginning in 2011, the Maryland Venture Fund will begin overseeing the InvestMaryland program. InvestMaryland is a $70 million fund designed to grow and invest in high growth potential up-and-coming businesses focused on advanced technological discoveries, life sciences, cyber security, and R&D. The state projects that 2,000+ new jobs will be created over the next 10 years.
Additional Venture Capital Resources Funding information can be found at