Investmaryland 2012 timeline january 1 dbed receives vc certification applications on behalf of mvfa
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InvestMaryland 2012 Timeline January 1DBED receives VC certification applications on behalf of MVFA January 16MVFA selects Altius Associates as VC Selection Consultant March 15Tax auction with insurance companies- raised $84 million March - May Consultant evaluates VC firms

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InvestMaryland 2012 Timeline January 1DBED receives VC certification applications on behalf of MVFA

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Presentation Transcript


  • InvestMaryland 2012 Timeline

  • January 1DBED receives VC certification applications on behalf of MVFA

  • January 16MVFA selects Altius Associates as VC Selection Consultant

  • March 15Tax auction with insurance companies- raised $84 million

  • March - May Consultant evaluates VC firms

  • May 1 Deadline for VC certification

  • June  Altius presents ranking of VC firms; authorized by MVFA to conduct comprehensive due diligence process

  • First payment of $28 million received from insurance companies

  • OctoberFirst VC firm approved and announced to the public


  • Tax Auction Winners


    • Venture Fund Applicant Pool

      • Application deadline: May 1, 2012

      • Received applications from 37 firms, 22 of which are based or have offices in Maryland

      • All 37 firms were certified


    • Applicant Pool – Stage

      • 20 Early stage venture capital

      • 10 Growth equity / Late stage / Small buyout

      • 6 Multi-stage

      • 1 Debt oriented


    • Applicant Pool - Focus

      • 21 Technology / IT / Software focused

      • 9 Life Sciences focused

      • 7 Opportunistic or generalists


    • VC Firm Approval Process

      • Comprehensive Due Diligence

        • Conducted by Altius

        • Required time: 60-90 days per evaluation

      • Authority Votes

        • Confirm recommended firm

        • Determine commitment amount

      • Contract Negotiations & Side Letter Development

        • Conducted by MVF Staff

        • Negotiations currently underway with four VC firms


    Maryland Venture Fund and InvestMaryland

    • Direct investment of $20.7 million of the InvestMaryland funds

    • Goal: InvestMaryland funds fully committed over a 2-3 year period

    • Investments will concentrate in early-stage Maryland based businesses

    • The first direct InvestMaryland investments happening now:

      • BrainScope – Medical devices to diagnose and treat traumatic brain injuries

      • Bambeco – Ecommerce company - eco-friendly fashion forward home decor

      • Maxtena – Advanced antenna and mobile communications

      • Pathsensors – Pathogen detection in food supply

      • Theranostics – Clinical diagnostic testing


    • Maryland Venture Fund

      • Financing for Emerging Technology Businesses

      • Enterprise Investment Program

      • MD Enterprises Venture Capital Limited Partnership Investments

      • Investment decisions are based on potential for returns,

      • promotion of economic development and the creation of jobs


    • Maryland Venture Fund

    • Enterprise Investment Program – $100,000 – 1,000,000

    • Direct equity investments in emerging high technology companies that have patented or proprietary products, manufacturing processes and a marketing strategy in place

    • Provides financing to move the enterprise to next stage of its development

    • Looking for opportunities to co-invest with the InvestMaryland VCs

    • Currently $8.86M of opportunities are in MVF’s pipeline.


    For More Information

    Thomas Dann at 410-767-6379 or

    tdann@choosemaryland.org


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