La. Admin. Code tit. 19 § VII-8713

Current through Register Vol. 50, No. 11, November 20, 2024

Section VII-8713 - Investments

A. Except as may be hereinafter provided, all of the provisions contained in §7713 of Chapter 77 of the Seed Capital Program shall also apply to this Chapter 87 program, except that co-investments will not be utilized in this Chapter 87 program. Only match investments will be utilized in this SSBCI Chapter 87 Program.

B. A qualified or eligible fund may receive a match investment equal to $1 of LEDC funds for each $1.50 of funds privately raised by the applicant fund. The maximum total dollar amount of an LEDC match investment in an eligible fund shall not exceed $2,000,000.

C. LEDC investments made in a qualified Seed Capital Fund will not exceed an initial investment of $450,000, with up to four expected follow-up investments, but shall not exceed a total investment of $2,000,000 per fund.

La. Admin. Code tit. 19, § VII-8713

Promulgated by the Department of Economic Development, Office of the Secretary, Office of Business Development and the Louisiana Economic Development Corporation, LR 38:992 (April 2012), amended LR 40:275 (February 2014).

AUTHORITY NOTE: Promulgated in accordance with LA. R.S. 51:2312.