TLDR:
- New Mexico State Investment Council (NMSIC) has committed $10 million to Next Frontier Capital’s fourth fund, which aims to invest in B2B tech companies in the Rocky Mountain region.
- The fund is targeting $125 million in total capital.
New Mexico State Investment Council (NMSIC) has committed $10 million to Next Frontier Capital’s fourth fund, which is targeting $125 million to invest in B2B tech companies in the Rocky Mountain region. The move is part of NMSIC’s strategy to diversify and invest in emerging industries. The organization believes that the Rocky Mountain region is the “next frontier” for venture capital investment, with growing opportunities in sectors such as software, SaaS, and health tech. NMSIC’s investment will support the growth of innovative startups in the region and contribute to job creation and economic development.
Next Frontier Capital is a Montana-based venture capital firm that focuses on early-stage investments in the Rocky Mountain region. Its previous funds have supported companies like Pulsara, a communication platform for healthcare teams, and Workiva, a cloud-based productivity software provider. The firm aims to leverage its experience and network to identify and invest in high-potential startups in the B2B tech sector.
The investment from NMSIC is expected to attract additional capital to Next Frontier Capital’s fund, as the organization’s backing often serves as a signal to other LPs. This influx of capital will enable Next Frontier Capital to provide more funding to startups in the region, fostering innovation and entrepreneurship. It also highlights the increased interest in venture capital investment in the Rocky Mountain region and the potential for significant growth in the coming years.
In recent years, New Mexico has been actively working to position itself as a hub for innovation and entrepreneurship. The state has implemented various initiatives and incentives to attract startups and investment, including tax credits for angel investors and a fund-of-funds program to support local venture capital firms. The investment from NMSIC further solidifies New Mexico’s commitment to supporting the growth of the tech ecosystem in the region.
Overall, NMSIC’s investment in Next Frontier Capital’s fourth fund underscores the potential of the Rocky Mountain region as a hotbed for B2B tech startups. By providing capital and support to these companies, NMSIC aims to drive economic growth and job creation in New Mexico and the surrounding areas.
