BA – 01 – 2-Rural Colorado Equity Fund

WHEREAS rural economic development programs often require equity capital; and

WHEREAS the Equity Investment Capital needed to finance job creation is not available in rural Colorado communities; and

WHEREAS seed and early-stage financing is critical to entrepreneurship but is less available in Colorado compared to other types of venture capital funding,

NOW, THEREFORE BE IT RESOLVED that CLUB 20 supports legislation that creates a source of equity capital exclusively targeted on the revitalization and diversification of rural Colorado economies and which provides that

1)  Such funds should be administered by a Venture Capital Authority to ensure that the funds are benefiting the intended target audience in an efficient and  effective manner,

2)  Such funds should be directed to seed and early-stage funding of entrepreneurial ventures, specifically in rural Colorado,

3)  In successful investments, both the original investment and the profits be returned to the State to create a revolving venture capital fund

 

Adopted March 3, 2001

Amended March 19, 2004