Conn. Gen. Stat. § 32-41oo
Program to incentivize formation of new venture capital funds
Connecticut · General Statutes of Connecticut Chapter 581 — Innovation Capital Act of 1989. Connecticut Innovations, Incorporated · Status: effective
Cite this
- Citation
- Conn. Gen. Stat. § 32-41oo, Program to incentivize formation of new venture capital funds, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2197979
- Permanent ID
ys:prov:2197979@1- SHA-256
961f1cc407b229b3d13e3b4310b1567470292ee3fb470dca23dc353cf4502402
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
The chief executive officer of Connecticut Innovations, Incorporated may establish a program to incentivize the formation of at least one new venture capital fund in the state. Connecticut Innovations, Incorporated may invest up to ten million dollars only if private investors invest at least one and one-half times the amount Connecticut Innovations, Incorporated pledges to invest in a new fund. Any such fund shall be subject to the following requirements:
(1) The amounts invested by Connecticut Innovations, Incorporated pursuant to this section shall be invested in start-up and growth stage companies located in the state. Such requirement shall not apply to the amounts invested by private investors pursuant to this section;
(2) The investor or the managing venture capital firm managing such fund shall have an office located in the state; and
(3) Any partner in a fund established under this subdivision may buy, after five years from the date of the establishment of the fund, Connecticut Innovations, Incorporated's equity stake in the fund plus interest at an annual rate agreed upon by the partner and the executive director.