RFP-Rhode Island Venture Capital Fund-Addendum 1
| Location: | Rhode Island |
|---|---|
| Posted: | Jan 24, 2025 |
| Due: | Jan 31, 2025 |
| Agency: | State Government of Rhode Island |
| Type of Government: | State & Local |
| Category: |
|
| Solicitation No: | RFP-2502ADD1 |
| Publication URL: | To access bid details, please log in. |
Bid Description
RI Commerce Corporation
Bid Number: RFP-2502ADD1
| Description |
| The Rhode Island Commerce Corporation (“Corporation”) seeks proposals from qualified firms for a fund manager to establish the Rhode Island Venture Capital Fund (“Fund”), and to act as the manager (“Fund Manager”) of the Fund in which the state will be a limited partner. This program may provide up to $2,000,000 to the Fund Manager to establish the Fund and manage and make investments in promising early start and start up companies, which are companies that (1) are less than 5 years old with under $1 million in revenue; (2) have not received any—or very minimal—equity capital, including pre-seed and seed funds; and (3) have a substantial presence in the State, including having at least fifty percent (50%) of its employees in the State (“Early-Stage Companies”). The Fund Manager will be required to match State funding.-Addendum 1-Questions and Answers |
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