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Office Locations:
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1 Commerce Way Suite 602
P.O. Box 8023
Little Rock, AR 72202
Phone: 501-682-5900
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The Arkansas Institutional Fund (AIF) works to build the state economy by increasing access to venture capital for innovative Arkansas businesses. Established in 2005, the AIF program is expected to result in over $420 million of equity, near equity, and debt capital for Arkansas businesses through its first and second rounds of investment. Over time, AIF is committing approximately $70 million to private equity and venture capital funds that provide early stage capital, traditional venture capital, later stage and expansion capital, and special situations capital. AIF is a fund of funds venture capital investment program designed to produce a surplus, the majority share of which goes to the state. AIF is authorized by the Arkansas Development Finance Authority (ADFA). The equity interest in AIF is held by the Arkansas Venture Capital Investment Trust. AIF is managed by Cimarron Capital Partners, LLC. AIF operates under an investment policy approved by the ADFA (see profile) Board of Directors.
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Investment Firm Key
VC = Venture Capital
PE = Private Equity
A = Angel
I = Incubator
MB = Merchant Bank
VD = Venture Debt
FI = Family Investment Office
FOF = Fund of Funds
ED = Economic Development Office
TT = Technology Transfer Office
CVC = Corporate Venture Capital
SEC = Secondary Purchaser
HF = Hedge Fund/Mutual Fund
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| COMPANY STAGE | REVENUE |
| Venture Capital | |
Seed Stage
(includes "pre-seed," or
concept stage) | No Revenue |
| Early Stage | Minimal
Revenue |
Growth Stage
(also called Mid-stage) | $2M-$7M |
Expansion Stage
(also called Late-stage) | $7M and greater |
| Private Equity | |
| Lower Middle Market | $10M-$249M |
| Middle Market | $250M-$499M |
| Upper Middle Market | $500M-$1B |
| Large Cap | >$1B |
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