New Mexico State Investment Council, Santa Fe, is searching for venture capital and private equity firms that will establish offices or launch new funds focusing on investment opportunities in the state, said Greg Kulka, alternative investments portfolio manager. The $10.5 billion council plans to commit at least $70 million to the program this year, committing about $10 million to each manager.
The council is especially interested in pre-seed, seed and early-stage venture investors with expertise in commercializing technology developed in laboratories and state universities, Mr. Kulka said. There is no timetable, and no RFPs have been issued.
Interested parties can call Mr. Kulka at (505) 424-2550. Private equity adviser Pacific Corporate Group is assisting.
As part of the initiative, the council committed $10 million to Blue Sage Capital, which focuses on growth-oriented companies and will open an office in New Mexico.
Funding for the private equity commitments will come from the councils $3 billion internally managed domestic core bond fund.
The council oversees the $7.4 billion Land Grant Permanent Fund, the $3.8 billion Severance Tax Permanent Fund and the $50 million Tobacco Settlement Permanent Fund, as well as assets of other state agencies.