Venture Capital Authority Fund

The Greater Colorado Venture Fund (GVCF) invests in early-stage startups headquartered in Colorado outside of the front range. The fund's mission is to inspire innovation in places formerly overlooked by venture funds. The fund started with $15 million. Investments range from $100,000 to $300,000 per company.

The expected number of investments is 40 to 50. There are limited funds reserved for future investments.


Type: Venture capital

For: Early-stage startups

Amount: $100,000 to $300,000 per business

OEDIT division: Business Funding and Incentives

The Greater Colorado Venture fund invests in founders who are dedicated to building their business from their chosen rural communities in Colorado.

Your company needs to:

  • be headquartered or have significant operations in rural Colorado (outside of the front range urban corridor)
  • have at least two full-time employees based in rural Colorado
  • commit to staying in Colorado for at least five years
  • be seeking first institutional or growth capital funding
  • serve customers well beyond your company's locality or be raising funds to scale
  • serve customers beyond your company's locality

You will need to apply through the Greater Colorado Venture Fund website. They list their requirements and more information about the program.

Submit an Interest Form 

In 2004, Colorado established the Venture Capital Authority fund to make seed- and early-stage capital investments in businesses. The legislature allocated $50 million in premium tax credits, which the fund sold to insurance companies.

High Country Venture

The Venture Capital Authority (VCA) selected High Country Venture, LLC to manage the funds. High Country Venture established Colorado Fund I and Colorado Fund II, each with approximately $25 million.

Neither fund currently makes investments. Fund I is closed, and Fund II is fully deployed as of December 2018. The investments generally ranged from $250,000 to $3.375 million.

High Country Venture is independently operated and generally makes funding decisions. State review ensured that businesses met minimum specified requirements before receiving funding.

The Greater Colorado Venture Fund

The VCA was intended to manage the money as an evergreen fund, meaning that the distributions received from Colorado Funds I and II are to be reinvested in future venture capital funds that meet the requirements of the VCA statute.

In 2018, the VCA invested proceeds from Colorado Funds I and II into a third fund, the Greater Colorado Venture Fund. The Greater Colorado Venture Fund invests in early-stage startups headquartered in rural Colorado outside of the front range.

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