Skip to content
Font sizeAAA

New Mexico Companies Receive $31 Million in New Investments

ALBUQUERQUE, NM; May 28, 2008 – The New Mexico Venture Capital Association (NMVCA) released the results of its quarterly survey of venture capital and private equity financing in New Mexico today, announcing that a record 10 New Mexico companies received $31.1 million in financing during the first quarter of 2008.

"This quarter's survey results reflect the continued development of the New Mexico market—3 New Mexico companies successfully went back to the capital markets for follow-on financing," said Lawrence Chavez, NMVCA Board Member and Associate at Flywheel Ventures. "We are seeing more companies growing to the point to support those later rounds of capital."

The investments in Q1 of 2008 included:

  • 7 Series A (early stage) rounds for $8.7 million
  • 3 Series B or later rounds drawing $22.4 million in capital.

"The ability of New Mexico companies to raise follow-on rounds is going to become increasingly important, so this trend is comforting to see," said Stephanie Spong, NMVCA President and Principal of Epic Ventures. "Under current market conditions, companies are going to take longer to reach exit or profitability and that means they will require more capital and more rounds of capital. The New Mexico companies raising money today are positioning themselves well for the future."

The survey is conducted by the NMVCA among its members and other investing entities within New Mexico. Survey results are collected and aggregated by the law firm of Brownstein Hyatt Farber Schreck, LLP on behalf of the NMVCA and individual survey results remain strictly confidential.


The New Mexico Venture Capital Association (NMVCA) was formed in 2004 to bring investment professionals together for the betterment of the state's private equity and venture capital community. The NMVCA facilitates intra-industry communication, provides a unified public voice, sponsors and promotes public policy initiatives, gathers statistics on New Mexico venture capital investments and educates potential institutional limited partners. Membership is open to professionally-managed private equity or venture capital firms with cumulative assets under management of at least $2.5 million and which have a demonstrated interest in investments in New Mexico. Current NMVCA members include: Altira Group, Epic Ventures, Flywheel Ventures, Fort Washington Capital Partners, International Venture Fund, Mesa Capital Partners, New Mexico Community Capital, Pharos Capital, Sun Mountain Capital, Tullis-Dickerson & Company, Verge Fund, Vestor Partners, Village Ventures, and vSpring Capital.

For additional information please contact us.