Arkansas § 15-5-1411 Creation of the Arkansas Venture Capital Development Fund

Arkansas Statutes

§ 15-5-1411 — Creation of the Arkansas Venture Capital Development Fund

Arkansas § 15-5-1411

Title15

This text of Arkansas § 15-5-1411 (Creation of the Arkansas Venture Capital Development Fund) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 15-5-1411 (2026).

Text

(a)There is established the Arkansas Venture Capital Development Fund, and within that Arkansas Venture Capital Development Fund the Arkansas Venture Capital Development Fund Account, which Arkansas Venture Capital Development Fund and Arkansas Venture Capital Development Fund Account shall be held by and maintained as a separate fund and separate account within the Venture Capital Investment Trust.

(b)(1) The Arkansas Venture Capital Development Fund is a Direct Fund, as defined in § 15-5-703 , created for the purpose of providing financial assistance to technology-based enterprises located in Arkansas with the expectation of:

(A)Developing jobs paying in excess of county and state average wages;

(B)Improving the growth, development, and advancement of technology-based enterprises; an

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(a) There is established the Arkansas Venture Capital Development Fund, and within that Arkansas Venture Capital Development Fund the Arkansas Venture Capital Development Fund Account, which Arkansas Venture Capital Development Fund and Arkansas Venture Capital Development Fund Account shall be held by and maintained as a separate fund and separate account within the Venture Capital Investment Trust. (b) (1) The Arkansas Venture Capital Development Fund is a Direct Fund, as defined in § 15-5-703 , created for the purpose of providing financial assistance to technology-based enterprises located in Arkansas with the expectation of: (A) Developing jobs paying in excess of county and state average wages; (B) Improving the growth, development, and advancement of technology-based enterprises; and (C) Converting research and development activities and early stage technology-based enterprises into viable and productive commercial ventures. (2) The Arkansas Venture Capital Development Fund shall target financial assistance toward: (A) Technology-based enterprises that are in the early stages of development and that are not yet able to attract adequate private sources of traditional financing or venture or investor-backed capital for their growth and development; and (B) Venture capital funds that have a direct connection to Arkansas and are focused on providing equity capital or near-equity capital to technology-based enterprises.