The State Investment Council on Tuesday approved providing an additional $40 million for venture capital investments in local companies.
The Albuquerque Journal reports that the money will be invested in startups in health care, energy and other fields in the next three years.
The allocation increases the state Co-Investment Fund to $150 million from $10 million.
The money comes from the state's severance tax permanent fund.
Information from: Albuquerque Journal.
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