Invest New Mexico

The program operates under the oversight of the New Mexico State Investment Council. Day-to-day investment screening and diligence are managed by SIC staff, often supplemented by external consultants with venture and growth equity expertise. Ultimate approval authority rests with the Council.

Deal flow originates through a public application portal and direct outreach by state economic development officials. The program also sources opportunities through relationships with local incubators, national laboratories (Sandia and Los Alamos), research universities, and co-investing venture firms active in the region.

The program is stage-agnostic within private markets but concentrates on venture capital and growth equity. Investments range from seed-stage technology spinouts from the national labs to expansion-stage companies seeking to scale operations within the state.

Capital originates from New Mexico's permanent funds — primarily the Severance Tax Permanent Fund and the Land Grant Permanent Fund — which are managed by the State Investment Council. These sovereign wealth pools are constitutionally established and benefit state public schools, universities, and other institutions.

Invest New Mexico actively co-invests alongside external general partners and angel syndicates. The program's mandate encourages partnering with out-of-state venture firms to bring both capital and expertise to New Mexico companies, often taking minority positions in syndicated rounds.