CAPCO Programs

Texas Governor Rick Perry’s economic development initiatives, such as the CAPCO program, are receiving support from the Texas Coalition for Capital:

The Texas Coalition for Capital expressed support for the economic development initiatives outlined by Governor Rick Perry in his State of the State address to the Texas Legislature and the people of Texas on Tuesday

“Governor Perry has been the strongest Chief Executive in the nation in terms of supporting economic development and job growth. The proposals he outline today will help keep Texas the best place in America to do business, and we certainly support that objective,” said Coalition president Craig Casselberry.

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Through the CAPCO program in Louisiana, Advantage Capital Partners and Enhanced Capital Partners invest $1 million in Portico Learning Solutions:

BATON ROUGE, La., March 18, 2008 (GLOBE NEWSWIRE) — Advantage Capital Partners, Enhanced Capital Partners, Louisiana Fund I and the Louisiana Technology Fund today announced participation in a $1 million funding round for Baton Rouge-based Portico Learning Solutions, a premier provider of custom e-Learning solutions. The company will use the funds to fulfill its working capital needs.

“The e-Learning market is a growing industry and we’re confident that Portico will continue to gain more traction in the marketplace with this latest round of funding,” said Lee Pryor, CEO of Portico Learning Solutions.

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The St. Louis Business Journal reports that Advantage Capital Partners invested $2 million in Transaction Transport Technologies (T3) under the Missouri CAPCO program:

The seconds ticked away too slowly for customers at Wild Bird Marketplace in Manchester as they waited for phone connections to process credit card transactions.

That prompted Owner Doyle Banks to switch his credit card processing to a new clearinghouse earlier this year — Transaction Transport Technologies, based in Lafayette Square.

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The Louisiana Coalition for Capital makes its case for public-private collaboration through the CAPCO program to help the economy:

We have all heard the bad news.

The National Venture Capital Association reports that venture investing in early stage businesses is down 71% over the last 12 months. Most venture funds are reserving their capital for existing portfolio companies. Small business lines of credit are not being renewed by banks seeking to preserve liquidity. As credit is cut further, companies are forced to consider layoffs to stay in business. The result will be a sharp decline in 2009 in the number of companies funded, and very little of the federal stimulus package is expected to make its way to small business.

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The DC CAPCO program funded the DC Economic Partnership’s PremierPlan Business Plan Competition:

The Washington, DC Economic Partnership (WDCEP) recently hosted the PremierPlan Business Plan Competition, a DC-based business competition with a $100,000 venture capital prize. Venable Business Transactions Group attorneys Frank Ciatto and Joe Walker donated extensive time and effort to the success of this project.

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The South Florida Business Journal reports that there is a great need for venture capital in Florida and tech companies are hoping to expand the CAPCO program to meet this need:

Venture capital lobbyists are preparing a new push to expand Florida’s Certified Capital Company (CAPCO)program, and CyLex of Boca Raton is part of the case they are building for the Florida Legislature.

CyLex is moving toward profitability as an applications service provider for its clients’ Internet operations. The company credits its growth partly to venture capital it has received from a CAPCO fund.

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$11 million was raised by Advantage Capital Partners for the Washington, DC CAPCO fund.  Advantage Capital says it looks forward to investing this money into a small DC business:

Advantage Capital Partners has raised approximately $11 million for a Washington, D.C., Certified Capital Company (CAPCO) fund. The fund will invest in qualified small businesses located in the District.

“We look forward to investing in promising companies with solid growth prospects, companies that will create jobs and increase demand for goods and services from other local businesses,” said Steven T. Stull, Advantage’s managing partner. “Experience in several states around the nation have shown that CAPCO investments attract additional venture capital dollars from outside the area to support entrepreneurs and their businesses, resulting in a more diverse and stronger local economy.”

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