<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".06" citation="COMAR 14.04.02.06" title_num="14" subtitle_num="04" chapter_num="02" heading="Amount of Money Available for Investment.">
  <paragraph num="A.">
    <text>In General. The amount of money available for investment shall vary from investment program to investment program.</text>
  </paragraph>
  <paragraph num="B.">
    <text>Amount for Each Investment Program.</text>
    <paragraph num="(1)">
      <text>Pre-Seed Builder Fund and Inclusion Fund. TEDCO may make an investment of up to $500,000 in each business selected for participation in the Pre-Seed Builder Fund or the Inclusion Fund.</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Rural Business Innovation Initiative Program. TEDCO may invest up to $25,000 per investment.</text>
    </paragraph>
    <paragraph num="(3)">
      <text>Seed Funds. TEDCO may invest:</text>
      <paragraph num="(a)">
        <text>For Cybersecurity Investment Fund and Technology Commercialization Fund, up to $500,000 per investment;</text>
      </paragraph>
      <paragraph num="(b)">
        <text>For the Life Science Investment Fund, up to $500,000 per investment; and</text>
      </paragraph>
      <paragraph num="(c)">
        <text>For the GAP Fund, up to $750,000 per investment.</text>
      </paragraph>
    </paragraph>
    <paragraph num="(4)">
      <text>Maryland Venture Fund. TEDCO may invest $250,000 to $1,500,000 per investment.</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Maryland Equity Investment Fund. TEDCO may invest up to $2,000,000 per investment.</text>
    </paragraph>
  </paragraph>
  <paragraph num="C.">
    <text>Exceptions.</text>
    <paragraph num="(1)">
      <text>The Board may increase or decrease the investment cap described in §B of this regulation at the request of the Chief Executive Officer and in accordance with any limitations of the appropriation.</text>
    </paragraph>
    <paragraph num="(2)">
      <text>If the Board modifies an investment cap under §B of this regulation in accordance with this §C of this regulation, TEDCO shall publish the modified investment cap on its website..</text>
    </paragraph>
  </paragraph>
</regulation>