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InvestMaryland 2012 Timeline January 1 DBED receives VC certification applications on behalf of MVFA

InvestMaryland 2012 Timeline January 1 DBED receives VC certification applications on behalf of MVFA January 16 MVFA selects Altius Associates as VC Selection Consultant March 15 Tax auction with insurance companies - raised $84 million March - May Consultant evaluates VC firms

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InvestMaryland 2012 Timeline January 1 DBED receives VC certification applications on behalf of MVFA

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  1. InvestMaryland 2012 Timeline • January 1 DBED receives VC certification applications on behalf of MVFA • January 16 MVFA selects Altius Associates as VC Selection Consultant • March 15 Tax auction with insurance companies - raised $84 million • March - May Consultant evaluates VC firms • May 1   Deadline for VC certification • June   Altius presents ranking of VC firms; authorized by MVFA to conduct comprehensive due diligence process • First payment of $28 million received from insurance companies • October First VC firm approved and announced to the public

  2. Tax Auction Winners

  3. Venture Fund Applicant Pool • Application deadline: May 1, 2012 • Received applications from 37 firms, 22 of which are based or have offices in Maryland • All 37 firms were certified

  4. Applicant Pool – Stage • 20 Early stage venture capital • 10 Growth equity / Late stage / Small buyout • 6 Multi-stage • 1 Debt oriented

  5. Applicant Pool - Focus • 21 Technology / IT / Software focused • 9 Life Sciences focused • 7 Opportunistic or generalists

  6. VC Firm Approval Process • Comprehensive Due Diligence • Conducted by Altius • Required time: 60-90 days per evaluation • Authority Votes • Confirm recommended firm • Determine commitment amount • Contract Negotiations & Side Letter Development • Conducted by MVF Staff • Negotiations currently underway with four VC firms

  7. Maryland Venture Fund and InvestMaryland • Direct investment of $20.7 million of the InvestMaryland funds • Goal: InvestMaryland funds fully committed over a 2-3 year period • Investments will concentrate in early-stage Maryland based businesses • The first direct InvestMaryland investments happening now: • BrainScope – Medical devices to diagnose and treat traumatic brain injuries • Bambeco – Ecommerce company - eco-friendly fashion forward home decor • Maxtena – Advanced antenna and mobile communications • Pathsensors – Pathogen detection in food supply • Theranostics – Clinical diagnostic testing

  8. Maryland Venture Fund • Financing for Emerging Technology Businesses • Enterprise Investment Program • MD Enterprises Venture Capital Limited Partnership Investments • Investment decisions are based on potential for returns, • promotion of economic development and the creation of jobs

  9. Maryland Venture Fund • Enterprise Investment Program – $100,000 – 1,000,000 • Direct equity investments in emerging high technology companies that have patented or proprietary products, manufacturing processes and a marketing strategy in place • Provides financing to move the enterprise to next stage of its development • Looking for opportunities to co-invest with the InvestMaryland VCs • Currently $8.86M of opportunities are in MVF’s pipeline.

  10. For More Information Thomas Dann at 410-767-6379 or tdann@choosemaryland.org

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