Certified Capital Companies (CAPCO) Program

The Certified Capital Companies Program (CAPCO) makes venture capital funds available to new or expanding small businesses throughout Colorado. The program encourages new business development and expansions of businesses by making a $75 million statewide pool available for investment throughout Colorado, and a $25 million rural pool available for investment in designated rural counties in Colorado.

The CAPCO Program is anticipated to create new employment opportunities within the state and to stimulate economic growth.

For more information, please see the following links:

Annual Reports

Frequently Asked Questions:

Q: What is the maximum level of funding that a CAPCO can provide to a Colorado business? How long will it take? 
A: A CAPCO may invest up to 15% of the funds that it receives from insurance companies in any qualifying Colorado business. However, each CAPCO may set different maximum investment levels for individual businesses as long as it meets the 15% maximum restriction. Additionally, a CAPCO shall not own more than 49% of any one Qualified Business through the initial Qualified Investment in the business. Each CAPCO may establish varying review processes that result in a variety of processing times. Businesses seeking funding should contact the CAPCOs directly to determine each CAPCO’s maximum level of funding and the timeframe. 

Q: Will the CAPCO Program help businesses located in rural parts of the state? What defines a rural part of the state?
A: The legislature set-aside $25 million from the $100 million pool of funds for use in rural counties only. Additionally, the legislature provided an incentive for the CAPCOs to use funds from the $75 million statewide pool for businesses located in rural counties and in economically distressed urban communities.

The legislation has defined designated rural counties. The following do not qualify as designated rural counties for the purposes of this program: Adams, Arapahoe, Broomfield, Boulder, Denver, Douglas, Eagle, El Paso, Fremont, Garfield, Jefferson, Larimer, Summit, Teller, or Weld. However, businesses in these counties are eligible to request funding from the $75 million statewide pool. All other counties in the state qualify as designated rural counties under this program.

Q: Will the CAPCO Program help businesses located in distressed urban communities within the state? What defines a distressed urban community?
A: The legislature provided an incentive for the CAPCOs to use funds from the $75 million statewide pool for businesses located in rural counties and in economically distressed urban communities. A distressed urban community for the purpose of this program is any area within the list of counties that is not a designated rural county (listed above) and that has been designated as an Enterprise Zone by the Colorado Economic Development Commission.

For more information, please contact John Reece, 303-892-3840