PERA establishes capital fund for Colorado businesses

The Colorado Public Employees Retirement Association announced today that it has established the Colorado Mile High Fund to provide easier access to capital for Colorado-based businesses.

Colorado PERA, with more than $40 billion in assets, said it will earmark capital for businesses that have a nexus in Colorado and currently have the support of a financial sponsor. It will provide private equity and venture capital opportunities structured as co-investments with other financial sponsors or lenders.

The organization also said it would consider uniquely structured capital formation opportunities for private equity and venture capital firms targeting Colorado-based opportunities.

Gov. John Hickenlooper said in a statement that Colorado business owners have long said they need easier access to capital to grow.

“The creation of the Colorado Mile High Fund will improve the access to capital and we are pleased that Colorado PERA’s partnership will benefit and help grow companies here in Colorado,” Hickenlooper said.

PERA director of alternative investments Tim Moore said that access to needed capital is harder for emerging entrepreneurs.

“PERA saw the mutual benefit providing much-needed capital for Colorado’s business community,” Moore said.