New Investment Fund to Strengthen Startup Companies
A new investment fund is aimed at strengthening startup companies in New Hampshire.
May 4, 2017, at 3:22 p.m.
CONCORD, N.H. (AP) — A new investment fund is aimed at strengthening startup companies in New Hampshire.
The fund, called Millworks II, is funded by 40 investors representing development, banking, accounting, health care, high-tech communities, and other interests. In a public-private partnership, the New Hampshire Business Finance Authority will match the investments two-for-one, with total contributions providing a $1.8 million infusion of startup capital.
Over the next three years, Millworks II will invest money through winning companies at the New Hampshire High Technology Council's TechOut event, and those in Alpha Loft's Accelerate NH program, an intensive training, mentoring and coaching program.
Millworks II builds on the success of a similar yet smaller fund, Millworks I, which launched in 2012. Millworks I made small, strategic investments in companies now employing 80 people.