This Solicitation opportunity from Rhode Island was posted on January 15, 2025. The submission period has ended. Browse the details below for market research, or find similar active opportunities.
RFP-Rhode Island Venture Capital Fund
Contract Overview
Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.
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The Rhode Island Commerce Corporation is seeking proposals from qualified firms to serve as the fund manager for the Rhode Island Venture Capital Fund. The selected firm will establish and manage the Fund, which will be a partnership with the state acting as a limited partner. The program aims to allocate up to $2 million to the Fund Manager to support early-stage companies, defined as those less than five years old, generating under $1 million in revenue, with minimal prior equity funding, and having at least 50% of their employees based in Rhode Island. The Fund Manager is expected to match the state's investment, thereby leveraging additional resources to foster the growth of promising startups within the state. The solicitation, identified as RFP-2502, was posted on January 15, 2025, with a response deadline of January 31, 2025. The contract size ranges from $2 million to $4 million, emphasizing a significant investment aimed at nurturing early-stage companies that meet the specified criteria. The initiative is part of Rhode Island’s broader effort to stimulate local economic development through targeted venture capital investments, and interested firms can find additional details and submit proposals through the state's purchasing portal.
General Info
Place of Performance
RI, USASet-Aside
Timeline
Submission Closed
Organization & Contact Information
Full Description
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