Archives from month » September, 2009

Innovative Venture Capital Program to Bring Millions of Dollars to Rural Missouri; CAPCO Program

The Certified Capital Company (CAPCO) Program helps bring prosperity to the agricultural business in rural Missouri:

The Certified Capital Company (CAPCO) program, a highly successful economic development initiative aimed at creating jobs and fueling entrepreneurial activity in Missouri, could bring $25 million in venture capital funding to the state’s rural and agricultural communities. The program was first adopted in 1997 and is up for renewal in the state legislature.

Senator Joe Maxwell, (D – Mexico), joined by Senator Franc Flotron (R-St. Louis), Representative Catherine Hanaway (R-St. Louis) and Representative May Scheve (D-Affton), has introduced legislation this year to expand the CAPCO program for an additional $10 million dollars a year for ten years. As part of the deal, $25 million of the bill’s total $100 million would be designated for Missouri rural, agricultural businesses.

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State Venture Capital Incentives Drive Success for Missouri Entrepreneurs

St. Louis Commerce Magazine reports that Advantage Capital Partners is contributing to the success of Missouri entrepreneurs through the CAPCO programs:

Among the valuable results of the annual InvestMidwest Venture Capital Forum is a wide range of partnerships, projects, exchange of ideas, information and opportunities among entrepreneurs, funding entities and public-sector economic development leaders.

Advantage Capital Partners, an InvestMidwest sponsor since the Forum’s inception, believes the current difficult state of the economy underscores the importance of public/private partnerships for states and communities that want to achieve aggressive economic development goals.

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DISB’s Position on the Audit on the CAPCO Program

Commissioner Thomas E. Hampton reports that the DC Department of Insurance, Securities and Banking (DISB) disagrees with the flawed conclusions made in the audit on the CAPCO Program:

Recently, the DC Auditor issued a scathing report on the Certified Capital Companies (CAPCO) program, which is administered by the District of Columbia Department of Insurance, Securities and Banking (DISB).

DISB is responsible for regulating insurance companies, District banks, mortgage lenders and brokers, and securities firms operating in our jurisdiction. We perform licensing, analysis and examination functions, as well as product review on about 60,000 entities. Our mission is two fold: to attract and retain financial services companies, and to provide effective and efficient regulatory processes to protect the residents of the District of Columbia.

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The Nation’s Capital Needs CAPCO

Ben Dupuy from the Coalition for Capital makes his case for the effectiveness of CAPCO programs in Washington, DC:

Imagine you are a 32-year-old employee who works hard every day. Yet, you dream every night about opening your own business to create your own wealth.

In today’s economy, in which our unemployment rate is at a 25-year high of 8.1 percent and Fortune 500 companies have to beg for funds to preserve jobs and stay in business, where can you find startup money to realize your dreams?

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Advantage Capital Provides $3.15 Million Texas CAPCO Funding to Current Solutions, LLC

Current Solutions, LLC has a great opportunity to grow and expand as a result of the financing provided by Advantage Capital Partners under the Texas CAPCO program:

Advantage Capital Partners, a leading venture capital and small business finance firm, has provided $3.15 million in financing to Current Solutions, LLC, a wholesale distributor of electrotherapy devices and accessories to medical supply organizations throughout the United States and Canada. The funding, made in connection with the Texas Certified Capital Company (CAPCO) program, enabled Current Solutions to acquire Koalaty Products, Inc. and will support the company’s move from Tampa, Fla. to Austin, Texas.

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