Connecticut General Statutes Title 32. Commerce and Economic and Community Development § 32-41oo. Program to incentivize formation of new venture capital funds

(1) The amounts invested by Connecticut Innovations, Incorporated pursuant to this section shall be invested in start-up and growth stage companies located in the state. Such requirement shall not apply to the amounts invested by private investors pursuant to this section;

(2) The investor or the managing venture capital firm managing such fund shall have an office located in the state; and

(3) Any partner in a fund established under this subdivision may buy, after five years from the date of the establishment of the fund, Connecticut Innovations, Incorporated's equity stake in the fund plus interest at an annual rate agreed upon by the partner and the executive director.