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NH Granite Fund to Target High-Tech Entrepreneurs
Borealis Ventures and the New Hampshire Business Finance Authority recently announced the creation of the Borealis Venture Fund, an early stage venture capital fund that will support the states's high-tech startups. Borealis Ventures will manage the fund, which is being backed by $4.5 million through the federal State Small Business Credit Initiative. The firm plans to raise an additional $25.5 million from private investors. Under the partnership, the state will share in any profits from Granite Fund investments, and will absorb the first 15 percent of any losses, according to a StateImpact-NPR article. Read the article...