Venture Capital Investment Act Passes the House

Category: NM Legislative Session 2022 NM Legislative Session 2022
Published: 13 February 2022 13 February 2022

Bill would support new and emerging business, spur job-creating economic development

Santa Fe, NM- Tonight, the House passed HB 104, the Venture Capital Investment Act, which would create the venture capital investment fund to make investments in new and emerging or expanding businesses in New Mexico passed the House floor tonight with a bipartisan vote of 49-20.

The venture capital investment fund would be used to invest in businesses that create new job opportunities under the New Mexico Finance Authority. These investments are required to be made with venture private equity funds or with New Mexico businesses in early stages of development, where the investments enhance the economic development objectives of the state. 

“The best investment we can make is in New Mexico businesses,” said Representative Linda Serrato (D-Santa Fe). “Capital today means economic development and jobs in our communities tomorrow.”

HB 104 was sponsored by Representatives Meredith Dixon (D-Albuquerque), Serrato, Javier Martínez  (D-Albuquerque),Antonio "Moe" Maestas  (D-Albuquerque) and Senator Martin Hickey (D-Albuquerque). It now advances to the Senate. 

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