Colorado Puts Out Call For New Venture Fund Manager

The State of Colorado has put out a call for RFPs to venture capital firms to manage its third, venture capital fund, Colorado Fund III, according to an email from the Colorado Venture Capital Authority. According to the VCA, it is seeking requests for proposals for prospective fund manager to manage the $20M fund, which follows Colorado Fund I and II, each of which were worth $25M. Those two funds were managed by High Country Venture. The investment funds--which target seed- and early-stage capital investments in Colorado businesses--were established by the Colorado Legislature in 2004. The VCA said it is inviting applications now, and also said it is specifically interested in possible fund managers to meet the 25% rural county investment requirement of the statute behind the fund.