Legislation now before the General Assembly puts in-play the expansion of Tennessee's eight-month-old TNInvestco capital-formation program.
The two place-holder bills that were introduced last week by State Senators Jim Kyle (D-Memphis) and Jack Johnson (R-Franklin) provide no details regarding the ultimate thrust of efforts to revise and expand a state program that has, thus far, helped to fund six new venture-capital funds in Tennessee.
The filing of the bills does, however, seem to signal the beginning of an array of lobbying efforts that could mean expanding cumulative TNInvestco tax-credit allocations to a cumulative $200 million or more, from the program's original $120 million.
With that much money on the table, various camps are organizing to protect what they have, or to enlarge the TNInvestco program to bring more funds into the tent.
THE TENNESSEE TNIvestco CAPITAL-FORMATION PROGRAM IS ONE OF THE MOST INNOVATIVE EARLY STAGE, STATE FUND OF FUND PROGRAMS, THAT IS DESIGNED TO HAVE NEW IN-STATE MANAGED VC FUNDS , MANAGED BY EXPERIENCED TENNESSEEANS, THAT WILL INVEST IN ENTREPRENEURIAL TENNESSEE COMPANIES.
RICH BENDIS
To read the full, original article click on this link: Bills in hopper: General Assembly, VCs eye TNInvestco expansion on Venture Nashville
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