c/o State Retirement & Pension System
120 East Baltimore St., Room 1644, Baltimore, MD 21202
(410) 625-5571; fax: (410) 468-1710
120 East Baltimore St., Baltimore, Maryland, February 2004. Photo by Diane F. Evartt.
As a limited partner, the Trust invested in newly formed and existing venture capital funds which, as part of their overall investment strategy, ensured that a majority of Trust funds were invested in Maryland business enterprises in the initial stages of development. By July 1992, the Trust, in its role as a "fund-of-funds," committed its entire $19.1 million in eight venture-capital partnerships: Catalyst Ventures ($3 million); Oxford Bioscience Partners ($3 million); Edison Venture Fund III ($3 million); GroTech Partners IV ($3 million); Calvert Social Venture Partners ($2 million); TDH III ($2 million); Kitty Hawk Capital L.P., III ($1.6 million); and Tri-Tech Partners ($1.5 million).
The Trust no longer is making new investments, and finalized its liquidation phase in January 2013.
The Board of Trustees of the Trust had seven members. They were named to four-year terms by the Governor with Senate advice and consent. The Governor named the chair (Code Economic Development Article, secs. 10-701 through 10-712).
The Board last met in January 2013.
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