West Virginia Business Resource Directory

West Virginia Jobs Investment Trust BoardProgram: Venture Capital ProgramFinancial AssistanceS t a t e w i d eContactC. Andrew Zulauf, Executive DirectorScience and Research304.345.6200acz.jit@frontier.comTargetAudienceFundingWVJIT invests in seed, early and later stage entities of small to mid-sizecompanies that are looking to expand their overall business operation.StateTotal available: $23 millionApplicationProcessMinimum or maximum amount a participant can receive:WVJIT will consider investments from $250,000 to $500,000. The Board willconsider “follow-on” investments in its portfolio companies up to a maximumof $500,000, not to exceed $1,000,000 in the aggregate, in any one companyincluding the initial investment.Applications are accepted anytime from eligible businesses.Deadlines: NoneDescriptionEligibleApplicantsRestrictionsThe primary focus of WVJIT is to invest in eligible businesses that will directlyor indirectly increase or retain jobs and employment in West Virginia and willpreserve, create, expand and enhance business opportunities in West Virginia.Eligible applicants include any business which is qualified to do business inWest Virginia and is in good standing with all applicable laws affecting theconduct of such business.Investments in eligible businesses will not be made if the primary purposeof the funds is for distribution or payment to other owners, partners,shareholders, members or beneficiaries of the eligible business or to personsrelated to such persons when such persons will retain any portion of theirequity in the eligible business.W E S T V I R G I N I A D E V E L O P M E N T O F F I C E D–29