Vermont Venture Capital Program

VEDA has entered into agreements with venture capital fund managers to deploy $28.9 million in State Small Business Credit Initiative (SSBCI) funds across Vermont as part of the Vermont Venture Capital Program. These funds are intended to increase the amount of investment capital provided to new Vermont companies or existing firms for the purpose of expansion. These funds leverage private investment, increase business development, and diversify Vermont’s economy.

In 2024, VEDA and the State of Vermont announced the first round of the Venture Capital Program. An announcement detailing the allocation of the remaining $13 million will be made in the future.

State Small Business Credit Initiative (SSBCI)

The state of Vermont received $57.9 million in SSBCI money from the federal government to expand access to capital for small businesses, nonprofit organizations, and agricultural enterprises. The state tasked VEDA with deploying these funds. VEDA applied half the money to the Vermont Loan Participation Program which enhances existing commercial, agricultural and forestry, and energy lending. The other half of the SSBCI funds were used to create the Vermont Venture Capital Program.