Mayor Bowser to Launch $26 Million DC Venture Capital Fund
Washington, DC – December 15, 2024 – Mayor Muriel Bowser announced today the launch of a $26 million DC Venture Capital Fund, aimed at supporting early-stage technology startups in the District of Columbia.
The fund, which will be managed by the District of Columbia Department of Small and Local Business Development (DSLBD), will provide seed and early-stage funding to companies that have the potential to create high-paying jobs and drive economic growth in the city.
“This fund is a strategic investment in our city’s future,” said Mayor Bowser. “By supporting local startups, we can foster innovation, create jobs, and build a more equitable and prosperous DC.”
The fund will focus on investing in startups in the following sectors:
- Healthcare
- Technology
- Energy
- Education
- Transportation
To be eligible for funding, startups must be based in the District of Columbia, have a strong leadership team, and demonstrate the potential for significant growth.
“We are excited to launch this fund and support the next generation of tech entrepreneurs in DC,” said DSLBD Director Kristi Whitfield. “This investment will help create jobs, grow our economy, and make our city a hub for innovation.”
The DC Venture Capital Fund will be part of Mayor Bowser’s broader economic development initiatives, which aim to create 100,000 new jobs by 2024. The fund is expected to leverage additional private investment, creating a multiplier effect on economic growth.
Interested startups are encouraged to apply for funding through the DSLBD website. The application process will open on January 1, 2025.
Mayor Bowser to Launch $26 Million DC Venture Capital Fund
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