Governor Phil Scott, the Department of Economic Development (DED) and the Vermont Economic Development Authority (VEDA) today announced the first round of Venture Capital Program investments thanks to Vermont’s State Small Business Credit Initiative (SSBCI). The Venture Capital Program is allocating nearly $29 million to venture capital funds to help Vermont entrepreneurs and business startups.
“FreshTracks is excited to participate in this program, matching private investment capital with the SSBCI public funding to launch a new $19 million venture fund called the FreshTracks Green Mountain Fund. This unique program allowed us to raise our sixth venture capital fund in half of the time it would normally take”, said Cairn Cross co-founder and managing director of FreshTracks Capital. “We expect to invest in at least 20 start-ups and early-stage Vermont-based companies during the next five years with this new investment vehicle.” Read more: Venture Capital Program Investments Help Vermont Entrepreneurs