1.) Is this the “official” blog for the Invest Georgia Program?
No—this is actually a personal blog I created a few years ago. Historical posts (2012-2015) include angel investing and other topics. However, going forward, I’ll likely concentrate on the Invest Georgia Program. (I keep the older posts open primarily for reference.)
2.) Is there any additional information about Invest Georgia available (besides this blog)?
Yes! Here is the “2015 End of Year Report” we sent in December, 2015 to Governor Deal, Lt. Governor Casey Cagle, House Speaker David Ralston, the Senate Finance Committee and the Chairperson on the House Ways and Means Committee.
Here is also a link to the Invest Georgia website. Of course, feel free to contact me directly as well. I’d be happy to answer questions.
3.) Who “runs” the Invest Georgia Program?
I am the full time Executive Director of the program and run day-to-day operations. I work closely with our investment consultant, LCG Associates, and the Invest Georgia Board of Directors. I report directly to the IG Board of Directors. The BOD members were appointed to their roles by Governor Deal, Lt. Governor Casey Cagle and House Speaker David Ralston.
4.) Where are the Invest Georgia offices?
We are in the “Hardin” building located at 1380 West Paces Ferry Road.
5.) Has the Invest Georgia program made any investments?
Yes–The Invest Georgia Program has committed $3,000,000 to TTV Capital in Fund IV. TTV Capital is HQ’ed in Atlanta and specializes in the “FinTech” industry (financial services).
6.) Is Invest Georgia going to continue to invest in 2016?
Absolutely. We are evaluating a number of venture capital and private equity groups and hope to have a new announcement this summer
7.) How much money does the Invest Georgia program have to invest?
We hope to fully invest the remaining $7,000,000 of the initial program tranche by the end of the 2016 calendar year.
8.) Can the Invest Georgia Program and/or fund invest in my company directly?
No. By law, the Invest Georgia Program is only allowed to invest in Georgia based funds–either venture capital or private equity. We cannot make a direct investment from the Program into a Georgia company. Any Georgia-based company looking for capital from the Invest Georgia program would need to speak to venture or private equity funds that have received capital from the Invest Georgia Program.
9.) What is the “mission” of the Invest Georgia Program?
To create a long-lasting, efficient and transparent program that can allocate long term capital to fast growing, Georgia based companies.
10.) Why was legislation needed to do create this program?
Georgia has considered programs similar to Invest Georgia since 2002. None have been successful until Invest Georgia. It took a coordinated, 3 year effort with various needed parties (legislative, executive, investment) working together to create a program that has oversight, is transparent to all and is meant to be a leadership program for the State of Georgia and the companies and employees that work hard to make this state great.
11.) Will Invest Georgia grow in size?
Yes. Invest Georgia was allocated an additional $10,000,000 in the 2016 Legislative Session. These monies will be allocated during the fiscal year for the State of Georgia which starts July 1, 2016.