GROWKS MULTI-FUND
PROGRAM
Investment support for Kansas-based seed/early-stage venture funds
GROWKS Multi-Fund
This new program will invest in multiple Kansas-based seed/early-stage venture funds with a maximum of $2M in any one fund for a total program allocation of $6M dollars.
These firms will be selected by the GROWKS Multi-Fund selection committee.
These funds must meet the criteria set forth by the Kansas Department of Commerce, NetWork Kansas, and the U.S. Department of Treasury SSBCI 2.0 guidelines.
-
Kansas HQ, <$50M Fund Size
-
New or emerging fund managers, and/or minority/female fund managers
-
Demonstrated Kansas entrepreneurial ecosystem building
-
Not restricted to, but must actively source deals in Kansas per investment thesis
-
Commitment maximum is 10% of total fund size
-
Maximum 1.71% Services to Portfolio Companies paid (over the life of the fund)
-
No Services to Portfolio Companies paid after 10 years
-
Signed list of services provided to portfolio companies annually
-
GROWKS Fund Side Letter (MFN, Eligible Business Purposes, Reporting, SO, COI)
-
No deal rounds over $20M
-
Understanding SSBCI Conflict of Interest requirements (no SSBCI insider has a personal financial interest in the target company)
-
Make site visits to Kansas’s metropolitan areas (Wichita, Lawrence, Manhattan, Topeka) to make relationships with ecosystem partners
-
No deal warehousing
-
No secondary market transactions
Interested parties should provide documentation as outlined in the
More Information Request Form to equity@networkkansas.com