# COMAR Title 14 — Independent Agencies

## Subtitle 04 — Maryland Technology Development Corporation

### Chapter 06 — Maryland Venture Fund

#### Regulation .06 Investment Criteria.

*COMAR 14.04.06.06*

In General. In addition to the investment criteria set forth in 14.04.02.05, TEDCO shall consider the following investment criteria:

A. Whether the market opportunity is appropriate for venture-stage investment;

B. Whether the applicant, at the time it submits an application to TEDCO, is raising a minimum investment round of $2 million;

C. Except for life sciences businesses, whether the applicant’s quarterly revenues equal or exceed $250,000;

D. Whether the investment has the potential to generate returns of two times the amount of TEDCO’s invested capital not more than 8 years from the date of the investment;

E. Whether the applicant presents a plausible exit strategy for investors;

F. Whether the applicant can provide access to or information about its partners and customers;

G. Whether the management team has the skills and ability to effectively secure an institutional venture investment or effectuate a successful exit for investors;

H. Whether the applicant has the potential to secure institutional venture capital from other investors concurrent with Maryland Venture Fund; and

I. Except for life science businesses, whether the applicant’s annual growth rate equals or exceeds 20 percent.