Boulder firm, Tango tapped to manage Colorado state venture fund

Tango to run reformed venture capital program

Boulder’s Tango, a venture capital firm, won the nod this week to manage a new state program designed to invest in promising Colorado startup companies and generate jobs.

The Colorado Venture Capital Authority board selected Tango, started in 1998, over three other finalists that included CVM Equity Funds LLC of Lafayette, a firm that helps manage similar programs in Montana and New Mexico.

By Greg Avery, Camera Business Writer

Full Article: http://www.dailycamera.com/bdc/local_business/article/0,1713,BDC_2461_3407930,00.html

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CVCA picks four finalists
Amy Fletcher
Denver Business Journal

The Colorado Venture Capital Authority (VCA) has named four finalists to manage funds for the VCA, which is replacing Colorado’s beleaguered Certified Capital Company (CAPCO) program.

The finalists include one out-of-state and three local firms. Two of the four participated in the CAPCO program. All will make one-hour presentations to the VCA board Dec. 10, and the fund manager or managers will be chosen by the end of the year.

Several well-known venture capital firms have questioned how many qualified companies would participate, saying there are too many restrictions on the program to make it worthwhile.

Full Article: http://www.bizjournals.com/industries/banking_financial_services/venture_capital/2004/12/13/denver_story8.html

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CVM Equity Funds
2575 Park Lane
Ste 200
Lafayette, Colorado 80026
phone: 303-440-4055
fax: 303-440-4636
email: [email protected]

CVM Equity Funds (CVM) is the general partner of six equity funds totaling $20.3 million under management. CVM Equity Funds I, II, III, IV and V are focused in the Rocky Mountain West, with a primary emphasis on Colorado. Northern Rockies Venture Fund (NRVF) has an investment focus primarily in Montana.

Since its founding in 1979, CVM has remained focused on start-up and early stage venture capital investing. To date, CVM has invested in 60 companies, assembling a portfolio with sales of over $170 million annually. Acting often as the lead investor in a company’s first professional outside round of financing.

Principals:
CVM is managed by R. D. Peter Bloomer, GP, and Director; William E. Coleman, Ph.D., and Ed Wetherbee.

Portfolio Companies:
CVM Equity Fund I (1983) was capitalized at $1.59 million. It returned $5,364,073 to its investors and closed in 1996. It ranks in the top quartile funds of its vintage according to Venture Economics.

CVM Equity Fund II (1986) was capitalized at $2.1 million. It returned $6,943,555 to its investors and closed in 1994. This fund also ranks nationally in the top quartile of funds of its vintage.

CVM Equity Fund III (1989) was capitalized at $3.4 million and has returned $9.7 million to date. This fund remains open with three active investments. CVM Equity Fund IV (1993) was capitalized at $5.2 million and has returned capital to date. This fund has five active early stage investment and expectations are high.

CVM Equity Fund V (1998) was capitalized at $6.0 million and will continue making investments along the Front Range of Colorado and in the State of New Mexico.

Northern Rockies Venture Fund (NRVF) closed on $2 million in 1995. The lead investor in NRVF is the Montana Science & Technology Alliance. NRVF has made nine investments to date. This fund focuses on early-stage venture in Montana.