TEDCO, the Maryland economic engine for technology companies, announced the selection of 100KM Ventures as one of the early-stage venture capital fund managers supporting the management and investment of up to $10m U.S. Department of Treasury State Small Business Credit Initiative (SSBCI) funding.
Last year, TEDCO announced receiving an infusion of up to $50m in funding from SSBCI initiative. This funding is being used to support recipients of TEDCO’s Venture Equity Fund, Seeds Funds Equity program, and Social Impact Funds—as well as the $10m earmarked for the Venture Capital Limited Partnership (VCLP) Equity program.
As part of the VCLP Equity program, 100KM Ventures is getting $3m of the $10m earmarked funds to oversee.
Led by Shalanda Armstrong, founder and managing partner, 100KM Ventures, is a Washington, D.C.-based venture capital firm dedicated to investing in early-stage, diverse management teams focused on building the next generation of technology companies addressing untapped customers across the Future of Work and Women’s Health.