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Venture Capitalists Invest Almost $16 Million in New Mexico Companies

ALBUQUERQUE, NM; June 26, 2009 – The New Mexico Venture Capital Association (NMVCA) released the results of its quarterly survey of venture capital and private equity financing in New Mexico, announcing that 5 New Mexico companies received $16.1 million in financing during the first quarter of 2009. While the number of transactions and total aggregate investment declined from the strong first quarter of 2008, Q1 2009 represents a significant increase in both the number of deals closed and dollars invested from the fourth quarter of 2008 with an 89% increase in raised capital.

“Although these numbers still represent a significant drop off from our record high levels in the middle of 2008, it is encouraging to see venture capital beginning to flow back into early-stage companies in New Mexico,” said Richard Harding, NMVCA Board Member and General Partner of International Venture Fund.

The investments in Q1 of 2009 included:

  • 3 Seed (startup investment) rounds for $1.8 million in capital
  • 1 Series A (early stage) round for $0.1 million
  • 1 Series C+ (late stage) round drawing $14.2 million

“After seeing zero seed investments in 2008, it is exciting to watch a new crop of companies being created and funded here in New Mexico,” said Francine Sommer, NMVCA Board Member and Special General Partner of Village Ventures. “Time and again, many of the best companies in America form during economic downturns, so we will hope to see one of these new investments shortly become an anchor in the New Mexico business community.”

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: Epic Ventures, Flywheel Ventures, Fort Washington Capital Partners, International Venture Fund, Mesa Capital Partners, New Mexico Community Capital, Pharos Capital, Sun Mountain Capital, Verge Fund, Vestor Partners, Village Ventures, and vSpring Capital.

For additional information please contact Tom Stephenson, NMVCA Surveys Chairman at 505-247-1038 or at