In his article, A Federal VC Fund of Funds, Dan Primack speaks to Richard Bendis about Innovation America.

"Richard Bendis of Innovation America says that the organizations held initial talks with the Obama transition team back in December, at which point the proposed program stood at just $1 billion. Bendis says that the government reps requested additional information, which prompted Innovation America and NAVSF to conduct a survey demonstrating the difficulties faced by young companies in search of venture capital."

You can view the entire article here.