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NMFA venture fund commits $50.5M to eight managers; lawmakers, organizers press for more local deployments and startup support
Summary
NMFA reported roughly $50.5 million in commitments to eight venture funds and additional activity in 2025; technology and startup groups lauded the effort but outside speakers and lawmakers said many outside managers have not yet deployed capital in New Mexico and called for more accelerators and local investor development.
New Mexico Finance Authority staff reported to the oversight committee that the agency had committed about $50.5 million to eight venture private equity and debt managers as part of the NMFA Venture Capital Program, and that total program capitalization (including other appropriations and SSBCI transfers) is roughly $75 million. Committee members, local startup leaders and a longtime local fund manager said they welcomed the program but urged NMFA and the State Investment Council to ensure more capital reaches New Mexico businesses.
Ryan Marie (presenting as an independent consultant) and Marquita Russell outlined the program's mission and diversification objectives, and Ryan summarized the portfolio and commitments: two $10 million allocations (Advance New Mexico and Perennial Fund 2), $7.5 million allocations to Raven Indigenous Impact Fund and VAMOS Ventures, and smaller commitments to Tiverton, Dangerous Ventures,…
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