More states are getting in on the venture capital act. But not everyone's a fan of the funds state governments are launching.
Colorado, Georgia and Illinois are all working on venture capital funds to help fill the gap in funding left by private sources, joining such states as Ohio and Michigan that have already established state-run VC funds.
In Georgia, the state senate has approved the creation of a $100 million venture capital fund. The sponsor of the bill, Senator Tim Golden of Valdosta, told the Atlanta Business Chronicle the state needed such a fund because Georgia lags behind in private venture backing, and because nearby states already have such funds.
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