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MassVentures is the new name for the Massachusetts Technology Development Corporation (MTDC). MassVentures is a venture capital firm focused on fueling the Massachusetts innovation economy by funding early-stage, high-growth Massachusetts startups as they move from concept to commercialization. MassVentures focuses on Series A investments and considers occasional and opportunistic seed rounds. The Boston-based venture firm was formed in 1978 as a quasi-public corporation by the Legislature of the Commonwealth of Massachusetts, governed by an independent Board of Directors, and managed by experienced venture capitalists. Of the 132 companies in which it has invested, over 60 percent have been located in economically-targeted cities and towns within the Commonwealth. Its portfolio of companies have employed over 7,500 individuals in the Commonwealth with an annual estimated payroll of $612 million. Over its 30+ year history, the MassVentures Traditional Fund, an evergreen fund, has generated a gross IRR of 16.5%. The firm's team has experience across numerous industries including software, healthcare IT, industrial automation & robotics, internet & digital media, and mobile applications and platforms. A company may receive a Stage I grant of up to $100,000 for each successful application and, based upon progress demonstrated over the first year, an additional Stage II grant of up to $200,000.
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