New Mexico Companies Have Attracted $140 Million in Investment Funds – A direct result of investing state money in venture capital funds.

There are still three weeks left, but it’s probably safe to say that even without a few last-minute stocking stuffers, 2005 will go down as a banner year for venture capital investing in New Mexico.

When offices empty Dec. 31, upwards of $140 million will have been invested in New Mexico technology companies, ranging from tiny one-man startups, such as Los Alamos-based Caldera Pharmaceuticals, to potentially huge manufacturing companies such as Eclipse Aviation and Advent Solar.

That would be a four-year high for the state, which saw investments plunge after 2001’s $130 million record to levels that barely registered on the national scale.

Various sources tracking venture capital expenditures put the totals invested in 2002, 2003 and 2004 at less than $30 million.
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"It’s definitely a big plus for us and a good indicator on the way the economy is moving," said Charles Wollmann, a spokesman for the State Investment Council, which two years ago revived a 10-year- old initiative aimed at investing state money in venture capital funds.

By ANDREW WEBB Journal Staff Writer

Full Story: http://www.blackenterprise.com/yb/ybopen.asp?section=ybbf&story_id=86348704&ID=blackenterprise

(Many thanks to New West Network http://www.newwest.net/ for bringing this to our attention. Russ)