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San Jose Claims to Be First to Create a Municipal Venture Capital Pool

November 30, 2006View for printing

The San Jose City Council voted unanimously Nov. 14 to create a $3 million fund that it will invest in local companies that it hopes will go on, in the long run, to create wealth and jobs -- in San Jose.

San Jose apparently would become the first city in California to get into the venture capital field and probably the first in the nation. Neither the League of California Cities nor the National Venture Capital Association could name another city that's gotten into the business

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