Venture Capital Authority

Application for Fund Managers

The Venture Capital Authority (VCA) is accepting applications for professional venture capital fund managers. The VCA would like to commit its final allocation of federal State Small Business Credit Initiative funding to support capital access for innovative Colorado businesses. Interested fund managers are asked to read the Application Background and Requirements (Google Doc) and then complete the Phase 1 Application Form. Questions regarding the application should be submitted via the Phase 1 - Inquiry Submission Form and will be addressed in a questions and answers document that will be available on this webpage.

Application Timeline

Application Release Date - Wednesday, July 8, 2026
Question and Response Period - July 6 through July 30, 2026
Information Session 1 - Tuesday, July 14, 2026
Information Session 2 - Monday, July 20, 2026
Phase 1 Application Submission Deadline - Sunday, August 9, 2026 (12 am)
Phase 1 Selection Notification - Thursday, September 10, 2026
Phase 2 Application Opens -Thursday, September 16, 2026
Phase 2 Information Session Monday, September 21, 2026
Phase 2 Application Submission Deadline - October 4, 2026 (12 am)
Phase 2 Selection Notification - Thursday, November 12, 2026
Finalist(s) Interviews - Weeks of November 16 and November 30
Notice of Fund Manager(s) Selection by VCA - Friday, December 11, 2026

Note: The timeline is subject to modification at the VCA’s discretion. All times listed are in Mountain Time.

Summary

The Venture Capital Authority (VCA) plays a crucial role in strengthening Colorado's economy by assisting local entrepreneurs and startups in accessing the funding they need to grow. The VCA collaborates with professional venture capital fund managers to invest in pre-seed, seed, and early-stage businesses.

The VCA's objective is to support Colorado-based companies, particularly those in key industries that are expanding in the state. Their efforts align with the state's economic goals, aiming to provide financial assistance to small businesses, especially those in underserved communities. By doing so, they help these businesses achieve greater stability and success, contributing to a thriving economy in Colorado.

Overview

Type: Venture capital

For: Seed and early-stage startups

Amount: Historically, from $50,000 to $1 million per investment

Business testimonial highlighting that the Venture Capital Authority's investment in Opine AI, Inc. "has been a true unlock for Opine."

Image description: Business testimonial highlighting that Opine AI, Inc. received support from the Venture Capital Authority. Quote from Lindsay Rogers, Founder & CEO "As a Colorado founder building remotely in a fast-moving tech and AI market, VCA’s investment has been a true unlock for Opine. Their capital is helping us make the strategic hires that matter, accelerate our path to product-market fit, and bring our bigger vision to life: giving athletes and high-performers the tools to turn their stories into influence, opportunity, and long-term brand value."

Business testimonial highlighting that the Venture Capital Authority's investment supported Farclip.

Image description: Business testimonial highlighting that Farclip received support from the Venture Capital Authority. Quote from Alicia Caputo, CEO & Co-Founder "VCA capital backed Farclip early when raising capital as a pre-revenue deep tech company outside the coasts is exceptionally difficult, and their focus on Colorado has allowed us to keep building here. Because of that, we’re not just growing a company, we’re helping strengthen Colorado as a serious tech hub."

Business testimonial from JDA US, LLC Jerry Neuner, Founder & CEO

Image description: Business testimonial highlighting that JDA US, LLC received support from the Venture Capital Authority. Quote from Jerry Neuner, Founder & CEO " The investment from Colorado VCA has been crucial in helping JDA grow and scale our aerospace business here in Colorado Springs. The capital provided to JDA has given us the means to rapidly design and manufacture a range of new and innovative telemetry products for our global commercial and military aviation customer base. As a veteran-owned business, the VCA’s commitment and support has played a critical role in helping us execute our vision."

The objective is to support entrepreneurship, economic diversification, and quality jobs.

Your company needs to:

Have strong growth potential and desire to share equity in your business
Be headquartered and have principal business operations located in Colorado
Meet the Small Business Administration’s criteria for a small business
Maintain its business in Colorado for at least five years after first receiving an investment of certified capital
Be seeking its first investment from a professionally managed venture capital firm

Businesses interested in funding should visit the Funds' websites for more information. The VCA is currently a partner in five active funds.

Avesta Colorado Fund champions founders driving advanced energy, resource innovation, and economic opportunity for a more enduring and prosperous future.
Colorado ONE Fund targets early-stage investment into small disruptive companies developing innovative critical technologies in aerospace, defense, and homeland security, with a focus on underserved companies.
FirstMile Venture Fund is focused on founder-driven businesses and seed-stage investments. This fund invests in Colorado technology businesses.
Howdy Partners invests explicitly in ventures founded in rural Colorado. Their motto is 'Investing in founders who build where they belong.' They focus on pre-seed and seed-stage investments and are industry-agnostic.
Mines Venture Fund (MVF) invests in the next generation of deep tech founders coming out of Mines’ world-class research and innovation. MVF provides capital, operational expertise, and a powerful academic and commercial network to build and scale companies unlocking massive opportunities in mining, critical minerals, space engineering, energy, quantum tech and materials.

Avesta Colorado, Colorado ONE, FirstMile Ventures and Mines Venture Fund are committed to ensuring that at least 30% of the Partnership’s Capital investments are made in Portfolio Companies in Urban Enterprise Zones, review this on the Enterprise Zone Program page.

All investment decisions are made by the fund managers, not by the VCA Board or staff. Businesses seeking investment should contact the fund directly.

Established by the Colorado General Assembly, the VCA operates as a distinct political subdivision of the state, functioning as a Special Purpose Authority. Its activities are guided by the provisions detailed in C.R.S. Title 24, Art. 46, Pt. 2.

The VCA is governed by a Board of Directors, with administrative support provided by the OEDIT Business Funding & Incentives staff. The Board consists of nine members: two appointed by the Senate, two by the House, and five by the Governor.

The VCA periodically holds an open application process to select professional venture capital fund managers, in which the VCA takes a limited partner position. As of 2022, the State is also utilizing State Small Business Credit Initiative (SSBCI) capital through the Venture Capital Authority. For more details on SSBCI-funded programs, please visit the OEDIT SSBCI page.

The state of Colorado does not endorse the quality of management or the potential for earnings of such fund and is not liable for damages or losses to any investor in the fund or any other entity. Selection by the Colorado Venture Capital Authority to participate in this program does not constitute a recommendation or endorsement of the venture capital fund or its investments by the Colorado Venture Capital Authority. C.R.S. § 24-46-203 (Lexis Advance through all 2024 legislation).

Venture Capital Authority Board Venture Capital Authority Annual Reports

The Venture Capital Authority (VCA) is directed by a special purpose board. This board generally meets on a monthly basis. The dates of these meetings are subject to change at the discretion of the VCA. Below are links to the 2026 VCA meeting Agendas. For reference, when accessing any of the meeting agenda links below, it will open in a new window and will be a Google Document. To see agendas from past years, please visit our VCA Archives.