Please find attached the Fiscal Year 2013 public report of the Vermont Seed Capital Fund, LP. A subsidiary of the Vermont Center for Emerging Technologies (VCET) is the Fund Manager. Investing activities began in May 2010 shortly after the first capital contribution arrived, and as of November 2013, 13 companies from around Vermont have been initially supported by $2.2M of the Fund’s early stage risk capital. To date, 7 portfolio companies have received follow on investment and 3 companies have failed.
VCET invested $1M in capital alongside a total of $4.1M of one time capital from the State of Vermont via the Vermont Economic Development Authority (VEDA) to form this permanent, revolving $5.1M high risk pool of capital.
Thank you for your continued support of entrepreneurs in Vermont. We are available to discuss further or to answer questions.