Tedco to manage the Maryland Venture Fund

Changes in legislation that came into effect this month have given control of the Maryland Venture Fund to Tedco.

The Maryland Venture Fund, a US-based seed and early-stage investor, is now managed by Tedco, the Maryland state-backed mentoring, funding and networking organisation, according to Technical.ly Baltimore.

Both organisations are state government-backed and funded. The change in legislation comes from the Augustine Commission that was looking at ways to improve the US state's business practices.

The two organisations had been working towards this outcome since June 2015, with the change coming into effect on October 1st, 2015.

Notable investments for Tedco include TRX Systems, a manufacturer of internal people tracking technology to be used where GPS is not available or is unreliable. The Maryland Venture Fund has invested in companies such as Bambeco, an e-commerce company, and Socialtoaster, a social media engagement platform.

See more from this Government Report: Maryland, US

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