State venture capital fund invests $1 million in TechSquare Labs

[private]The state’s venture capital fund, Invest Georgia, is investing $1 million in the TechSquare Labs Venture Fund, which is based in Atlanta’s Technology Square.

The investment, which was finalized this week, is the third such agreement for Invest Georgia, which has received a total of $20 million in state funding to provide capital for innovative startup companies located in Georgia.

Invest Georgia puts its money in venture funds that in turn invest in promising early-growth companies.

“Now we’re seeing new funds pop up like TechSquare Labs,” said Knox Massey, Invest Georgia’s executive director. “We think it’s as important to support these new funds — support those emerging funds and emerging managers as well, for the next generation of venture funds.”

Invest Georgia invested $3 million in TTV Capital IV in 2015 and $3.25 million in Mosley Ventures earlier this year.

© 2017 by The Georgia Report

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Tags: Invest Georgia , Knox Massey , venture capital fund