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USDA, Private VCs Raising $125M for Rural Startups
Two private venture firms have committed to raising a total of $125 million to invest in rural, early stage startups under the Department of Agriculture's Rural Business Investment Program. The program was launched last April, when Advantage Capital Partners launched the first $150 million Rural Business Investment Company (RBIC) fund. Two new RBIC funds are now being raised by Innovation Memphis ($25 million) and Meritus Kirchner Capital ($100 million) to make targeting equity investments in rural businesses with high-growth potential. Learn more...