Some of our great Colorado LLCs, C Corps and S Corps are landing some nice venture funding, and an opportunity for some microfinance as well.
Considered an alternative investment path, venture funding along the front range was a bit down in Q1 2012, but don’t tell that to one Colorado biotech company. MiRagen Therapeutics Inc. of Boulder received $20 million in venture capital to continue its development of a new biotech drug platform. Involved in the funding were Remeditex Ventures LLC, Atlas Ventures, Broadview Ventures, Boulder Ventures and Amgen Ventures.
From Frosty Mug to Microfinance
Another funding alternative to the traditional business loan is coming to Colorado. The Boston Beer Co., which gives us Sam Adams, is expanding its “Brewing the American Dream” microfinance program to Colorado. In partnership with nonprofit Accion, they will provide about $6,300 on average and also mentoring and other resources for small business owners in the food and beverage industry. The program was started in 2008 and has since provided about 150 loans worth around $1 million in total.
Two Colorado businesses have already been identified as funding recipients: Big Daddy’s Sports Bar, and Taco Center. More about the Brewing the American Dream can be found on the Accion site.
Speaking of brewers, The Colorado Brewer’s Guild, via the Denver Post, reports that Colorado’s craft brewers contributed $446 million to the Colorado economy in 2011. Five of the nation’s largest 50 craft brewers are based in Colorado, including New Belgium Brewing Co. That’s a lot of suds.
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“Brew Projects” under CC license by Tim Patterson