Dealflow | April 20, 2017

Vermont Works has raises $50 million for state economic and job growth

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Vermont Works has raised $50 million for the state’s economic and job growth.

Vermont Works is targeting the state’s growth-stage companies. “When companies are out for growth-stage capital, that’s when the availability of capital in Vermont tends to stumble,” Robert Zulkoski, a co-founder of thefund, said in an interview.

The new fund has made four investments, in Vermont Farm Table, Stonecutter Spirits, BTV Ignite and ThinkMD, a mobile app that helps nonprofit organizations on overseas medical missions make on-the-spot diagnoses.

VSECU, a member-owned cooperative and credit union, is backing the “social impact” fund, as are Zulkoski and co-founder Frank Koster. Most of the capital it expected to come from investors outside Vermont.