BIZ BITS

JOURNAL STAFF REPORT

NM Vintage Fund II closes on $1.5M in investments

New Mexico Vintage Fund, a partner fund of the New Mexico Angels, has closed on $1.5 million in new investments and has expanded and added new investees, according to a news release.

The investments helped fund BioFlyte, an Albuquerque-based disinfectant biotech startup, and Santa Fe-based Solstar Space Co., which develops technologies to enable Wi-Fi connectivity in space.

According to the release, Solstar recently landed a contract with the U.S. Department of the Air Force.

“The interest in Vintage Fund 2023 is surpassing our expectations,” Drew Tulchin, New Mexico Vintage Fund managing partner and president of New Mexico Angels, said in a statement. “Clearly the start-up community is booming in the state, above national averages, and we are thrilled to be a part of it. Stay tuned for more successes in the near future.”

New Mexico Vintage Fund provides local capital for New Mexico-based, early-stage companies with investments that range from $100,000 to $250,000.

According to the release, this is the second New Mexico Vintage Fund since its launch in 2022, which at the time provided $2 million in investments.

ARNIA Foundation to award $20K in classroom grants

The ARNIA Foundation, the nonprofit community venture of U.S. Eagle, is looking to award $20,000 for its enrichEd Classroom Grant Program, according to a news release.

Grant applications will be accepted from Aug. 22 through Sept. 17, with amounts ranging from $500 to $2,500 depending on the project.

The grant program, according to the release, is designed to support “New Mexico public and charter school teachers by providing educators with funding for educational resources

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and classroom activities.” The program addresses challenges local education faces such as funding, resources, and innovation.

“Teachers spend their own money in the classroom, trying to prevent students from falling behind. As leaders in our community, we feel compelled to step up and support them,” U.S. Eagle Federal Credit Union President and CEO Marsha Majors said in a statement. Grant applications can be filled out at useagle.org/ enriched.