Many startups rely on personal assets or family for initial funding. A leg up may be available through the following programs:
Ingenuity Venture Fund
The Ingenuity Venture Fund accelerates businesses by engaging its network of education, business, and government resources. The Ingenuity Venture Fund invests in New Mexico-based startups that will lead emerging industries, connecting them to capital that helps them grow the talent they need to succeed. Initial investments are between $100,000 and $250,000
Arrowhead Innovation Fund (AIF)
AIF was created by New Mexico State University (NMSU) and Arrowhead Center to provide $25,000 to $200,000 in seed and early-stage investments to commercialize promising technologies developed by New Mexico-based entrepreneurs. Note: AIF is no longer making investments.
New Mexico Angels
The New Mexico Angels invest in New Mexico-based companies, New Mexican entrepreneurs, and companies with products and services that have New Mexico economic impact. Projects that are not quite ready for funding will benefit from the events and workshops that help prepare entrepreneurs to raise capital. The NM Angels group is made up of highly talented and experienced investors who offer honest feedback and counsel.
Catalyst Fund
The state-backed investment program launched in 2016 to invest in venture funds around the state that make seed and early-stage capital available to startups. The “fund of funds” has invested in capital organizations such as the Ingenuity Venture Fund, Cottonwood Technology, Tramway Venture Partners, OneTen Capital, and NMSU’s Arrowhead Innovation Fund.
See Venture Capital for more information and sources.
Funding continuum courtesy of New Mexico Community Capital & updated by Finance New Mexico