Q: In what industries does the Maryland Venture Fund typically invest?
A: We are sector-agnostic and highly opportunistic. As generalists, we do not attempt to predict the future, but rather buy into our entrepreneurs’ visions for how the world is changing and what opportunity that presents.
Q: What size initial investment does the Fund typically make?
A: We tend to write initial checks in the range of $500 thousand – $1.5 million.
Q: What kinds of entrepreneurs does the Fund back?
A: Our founders are not always serial entrepreneurs, but we like to back individuals with a history of success.
Q: Does the Fund prefer to lead deals or follow other investors?
A: We are not followers by nature; when we fall in love with a company, we like to put as much capital behind its founders as we can. That said, we do play well with other funds and are happy to look at deals that have already secured lead investors.
Q: What is the size of the Fund?
A: We have over $100M of assets under management.
Q: Does the Fund make pre-product or pre-launch investments?
A: We have done it in the past and as opportunists, we wouldn’t rule it out. That said, our pre-launch investments are all heavily concentrated in businesses founded by entrepreneurs with whom we had pre-existing relationships or opportunities exciting enough to justify the increased risk. We encourage companies still attempting to find product-market fit to apply to TEDCO’s seed funds.
Q: My company is not based in Maryland. Does it still make sense for us to connect?
A: Yes. Though we invest in Maryland companies, we are good stewards of the larger regional tech community. If you have an exciting business in DC or Virginia, we’d still love to hear from you. We are happy to refer deals outside of our geographic scope to our portfolio of funds and other co-investors.
Q: When was the Fund founded?
A: The Fund was initially created in 1994, but grew tremendously in 2012 with a new infusion of capital. The current team took over management of the Fund when it was transferred to TEDCO in late 2015. The change in management reflects a desire to actively support and engage high-growth companies that require more financing than angels can provide, but are capital-efficient enough to fundraise less than what traditional institutional funds seek to invest.
Q: I’d like to write an article about the Fund or its portfolio. Who should I contact?
A: All press inquiries should be directed to Parag Sheth, who you can contact on LinkedIn here.