NJ on brink of creating $250 million innovation fund

Pending the signature of the state’s Governor which may have happened by the time this article posts, an initiative described as “a game-changing opportunity for early stage and emerging growth companies in New Jersey” will be much closer to reality.

The legislature in that state has sent Governor Phil Murphy a something called the “New Jersey Innovation Evergreen Act” that authorizes the New Jersey Economic Development Authority to create a fund to be capitalized at about $250 million through competitive auctions of state tax credits.

Does this sound somewhat familiar to our investor friends? You can learn more about this “fund of funds” initiative here.

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