'Fund of funds' to invest in Arizona tech startups
| July 29, 2008 |  View for printing |
Future Arizona high-tech startups may get a boost from new sources of venture-capital money.
The Arizona Economic Resource Organization http://www.azcommerce.com/Home has received $325,000 in state economic-development money to establish an Arizona "fund of funds," a program that raises investment capital from investors and reinvests those funds in several professional venture funds.
AERO's goal is to establish a $50 million fund of funds, which will be managed to attract overall investment of at least $200 million "to commercialize Arizona innovations."
By Jack Gillum Arizona Daily Sta
Full Story: http://www.azstarnet.com/business/247465
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