University System of Maryland Momentum Fund
About University System of Maryland Momentum Fund
The Maryland Momentum Fund (MMF) was established to invest in promising early-stage companies associated with the University System of Maryland (USM). The fund is focused on companies raising “late seed” rounds, where investments will fill grant and early-stage funding gaps in anticipation of a series A round within 18 to 24 months.
Founded by the USM Board of Regents to promote the state's economic development initiatives, Momentum will give particular attention to developing the innovation ecosystem in key sectors of regional and USM institutional strength. Investments will generally range from $150,000 to $500,000, with $250,000 being the most likely sum, in the form of convertible notes or equity purchases. In all cases, an investment matching (1:1) Momentum funding must be obtained within 6 months.
People
- Mike Ravenscroft, Managing Director
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