Milk Money, a Vermont-only crowd investing portal, has been acquired, signaling a new phase for the platform—and perhaps the intrastate crowdfunding market as well.
The two-year old intrastate crowdfunding platform’s new owner is the Vermont Innovation Commons, a regional innovation hub in Burlington combining a startup accelerator, co-working space and residential units under one roof. The hub is a project of Vermont Works Management Co., an investment firm focused on creating jobs and economic opportunity in Vermont. It is also raising a $50 million venture fund from local as well as out-of-state investors to invest in growth stage Vermont businesses.
Milk Money adds a vehicle for funding earlier stage businesses to the mix. “Milk Money is an important component of the Commons toolkit and for the pipeline of resources envisioned there,” said Mark Naud, Executive Director of Vermont Innovation Commons.
The deal was a stock swap, with no money changing hands.
Louisa Schibli (pictured top left) and Janice Shade (top right) created Milk Money L3c (limited profit LLC) to fill a gap for early stage capital in Vermont using the Vermont Small Business Offering Exemption (VSBO), an intrastate crowdfunding exemption enacted in 2014. The platform went live in August 2016. […]
The post With Acquisition, A New Chapter for Vermont’s Milk Money appeared first on Locavesting.
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