Wyoming Business Council Opens Applications for Wyoming Venture Capital
Applications now open for two funding opportunities for Wyoming’s high-growth entrepreneurs utilizing federal funds from the State Small Business Credit Initiative.
Cheyenne, Wyo – Applications are now open for the new Wyoming Venture Capital (WYVC) equity investment program from the Wyoming Business Council (WBC).
WYVC utilizes $58.4 million in federal funding allocated through the State Small Business Credit Initiative (SSBCI) and was created to support the innovation and growth needs of entrepreneurs across the state. It is an equity financing option for Wyoming’s high-growth companies with an eye toward future exit.
Wyoming companies or venture capital or angel funds interested in this opportunity can learn more and apply on the WBC website at wbc.pub/WYVC.
About Wyoming Venture Captial (WYVC)
WYVC utilizes two investment strategies to fill a gap in equity funding and support the growth of Wyoming entrepreneurs. The program targets contributing 20 percent to selected funds or companies’ fundraising rounds with a maximum of up to a 50 percent contribution, or $5 million.
WYVC Investment Strategies:
Funds Strategy: With a $23.4 million allocation, this strategy allows WYVC to make limited partnership (LP) investments in Wyoming-focused seed or early-stage venture capital (VC) funds. The Funds Strategy is committed to requiring an overwhelming majority of its subsequent investments in Wyoming-based companies.
Direct Strategy: The gap in follow-on funding is directly addressed by the Direct Strategy where WYVC can participate in funding rounds for Wyoming companies. With $35 million allocated, this strategy will make equity co-investments in startup companies headquartered across the state.
Ultimately, both strategies are designed to support in-state companies and to help bridge the early gaps in startup equity funding.