VC to target Native American businesses with $50M

A Silver Spring venture capital firm is preparing to raise $50 million to invest in businesses owned and managed by American Indian tribes and individuals.

Native American Capital http://www.nativeamericancapital.com plans to raise $10 million from wealthy tribes before approaching institutional investors for an additional $40 million. It hopes to make investments by mid-2006 and raise all the capital by the end of next year.

The fund would provide $1 million to $3 million in venture capital to Native American enterprises in established markets. That would include gaming businesses, companies benefiting from federal set-aside programs such as government contractors, companies receiving federal funds for housing and health care on reservations and companies related to natural-resource extraction on Indian lands.

Ben Hammer
Staff Reporter

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