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FUNDRAISING NEWS | December 16, 2024
Washington, DC, Mayor Muriel Bowser announced the launch of a $26M DC Venture Capital Fund backed by the US Treasury’s State Small Business Credit Initiative (SSBCI).
The fund aims to support underrepresented founders of tech companies based in the city as part of the “District Comeback Plan” initiative, which seeks to generate 35,000 jobs in high-growth sectors.
Under the supervision of the deputy mayor for planning and economic development, DC-based venture capital firm K Street Capital will oversee five to seven fund managers who will distribute the fund to qualifying early-stage tech startups.
Written By: Dakota
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