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While economists are looking for green shoots signaling a robust recovery, Los Alamos can now point to a new cottonwood seedling.
Cottonwood Capital Partners, LLC, with offices in Los Alamos and El Paso, Texas, announced this week that it had reached its first closing of Cottonwood Technology Fund.
It will be the first new venture capital fund rooted in New Mexico in several years and the first ever to establish its headquarters in Los Alamos, according to the company announcement.
Bill Bliven, one of the managing partners, said in an interview Friday that the investment fund aims to raise $20-25 million.
“The first close is enough to begin executing our plan,” he said. “As we continue to talk to potential investors about adding to our resources, we can hire support staff to leverage our time. We are evaluating deals right now.”
Bliven said it’s a good time for starting companies.
“We get the benefit of starting in a recovering market, “he said, “and as the economy recovers we can grow into a stronger market than it is now.”
He said that he and the firm’s investors don’t expect the “malaise” that has plagued venture capitalists for the last decade to last much longer.
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