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.