Slow growth at FNCU Venture Capital
FNCU Venture Capital has only $13,000 in the bank. Is NEDCO hindering the growth of the venture capital movement?
There has been a lot of talk about venture capital in this country.
More talk. Less do as there are only a couple of companies in existence.
The FNCU Venture Capital Company which came into existence earlier in the decade doesn’t appear to be doing a roaring business.
For instance, investment income, according to its balance sheets is a mere $176,000 and cash in the bank only $13,000. Total investments amount to almost $4 million and accounts receivable is approximately $100,000. and operating surplus for the year ended June 30,2009 was $294,000. Total shareholders equity amounts to $4.7 million.
Does NEDCO which provides seed money of up to $250,000 to scrunting entrepreneurs have anything to do with the lack of growth of venture capitalists?