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

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

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Presentation Transcript
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InvestMaryland 2012 Timeline
  • January 1 DBED receives VC certification applications on behalf of MVFA
  • January 16 MVFA selects Altius Associates as VC Selection Consultant
  • March 15 Tax 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
  • October First VC firm approved and announced to the public
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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
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Applicant Pool – Stage
    • 20 Early stage venture capital
    • 10 Growth equity / Late stage / Small buyout
    • 6 Multi-stage
    • 1 Debt oriented
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Applicant Pool - Focus
    • 21 Technology / IT / Software focused
    • 9 Life Sciences focused
    • 7 Opportunistic or generalists
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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
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
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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
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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.
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For More Information

Thomas Dann at 410-767-6379 or

[email protected]

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