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 |
