# Venture Capital Authority Venture Capital Authority is a Venture Capital based in Denver, United States. ## Overview - **Organization type:** Venture Capital - **Headquarters:** Denver, United States - **Region:** North America - **Address:** Denver, CO, United States - **Founded:** 2004 - **Assets under management:** Undisclosed - **Website:** oedit.colorado.gov ## Regulatory record - **Reports private funds:** No ## About Colorado created the Venture Capital Authority in 2004 as a political subdivision of the state, governed by a board appointed by the Governor and state legislature. The Colorado Office of Economic Development and International Trade provides administrative support, while the Colorado Housing and Finance Authority collaborates on program administration. Unlike a conventional family office or private fund, VCA exists to channel public capital — primarily from the U.S. Department of the Treasury's SSBCI program — into Colorado's start-up ecosystem. VCA does not make direct investments. Instead, it selects and monitors professional fund managers who receive public capital to back Colorado-based companies. High Country Venture has managed the Colorado Fund I and Colorado Fund II vehicles for the VCA, targeting early-stage technology companies across the state. Sectors historically within the purview of these vehicles include enterprise software, digital health, and advanced energy. The program structure means VCA's returns ultimately cycle back into the state's economic-development apparatus, creating a blended capital model distinct from purely financial return-seeking entities. The Authority's scale is modest and tied directly to federal SSBCI allocations. Board members like Betty Arkell oversee fund-manager selection and compliance, ensuring the capital meets Treasury deployment timelines and statutory requirements. VCA's geographic footprint is explicitly limited to Colorado, though its portfolio companies may operate nationally once funded. The program does not publicize aggregate AUM or deployment figures publicly. VCA's structural differentiator is its statutory origin. It is not a fund-of-funds optimizing for manager alpha alone — it is a policy instrument required to balance fiduciary standards with the state's goal of fostering local venture activity. The governor-appointed board creates a layer of political accountability absent in private allocators, meaning manager selection and continuation are subject to public-meeting dynamics and legislative oversight. ## Sectors - Enterprise Software - Digital Health - AI/ML - ClimateTech - Energy Transition & Renewables ## People - Betty Arkell — Board Member ## Questions ### Who makes investment decisions at the Venture Capital Authority? A board of directors appointed by the Governor of Colorado and the state legislature governs the VCA. This board selects and monitors professional fund managers, such as High Country Venture, which then make individual investment decisions within their mandated fund vehicles. The board does not pick individual portfolio companies directly. ### How is the Venture Capital Authority funded? The VCA's primary capital source is the U.S. Department of the Treasury's State Small Business Credit Initiative (SSBCI), a federal program designed to strengthen state-level venture ecosystems. Colorado's SSBCI allocation flows through a structure supported administratively by OEDIT and in program partnership with the Colorado Housing and Finance Authority. ### Does the Venture Capital Authority invest directly in startups? No. The VCA operates as a fund-of-funds within the state government. It allocates capital to selected venture capital fund managers — High Country Venture is a documented partner managing Colorado Fund I and Colorado Fund II — which then source and underwrite individual company investments. ### What is the relationship between the VCA and the Colorado Office of Economic Development? The Colorado Office of Economic Development and International Trade (OEDIT) provides staffing and administrative support to the Venture Capital Authority. While OEDIT handles the operational backbone, the VCA board retains independent authority over investment decisions and fund-manager oversight. ## Related profiles - [Ventum Financial](https://altss.com/profile/ventum-financial) - [Venture Capital Trust Fund](https://altss.com/profile/venture-capital-trust-fund) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/venture-capital-authority Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology