Insurers as Venture Capitalists? Maryland Pondering Tax Credit Plan

June 2, 2010

Maryland Gov. Martin O’Malley has a new proposal aimed at boosting the amount of venture capital for businesses like bioscience companies.

The governor rolled out the proposal on Tuesday during a speech to academic, business and government officials in Rockville.

The plan, which is called InvestMaryland, will require approval by the Legislature.

Under the proposal, insurance companies would be eligible for state tax credits, if they invest in Maryland’s venture infrastructure. The money would be directed to Maryland-based venture capital firms to get money to businesses creating jobs in fields like biosciences and nanotechnology.

Topics Carriers Maryland

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Latest Comments

  • June 2, 2010 at 3:05 am
    A. Meeba says:
    Like Hartford walled off its CDO investments? I think the walling off is the tricky part, especially when the investment managers are beguiled and bedazzled.
  • June 2, 2010 at 3:00 am
    VC witness says:
    Venture capital within insurance companies is not new. I have worked at two carriers where there were dedicated venture capital operations. If such an operation can be conser... read more
  • June 2, 2010 at 1:18 am
    A. Meeba says:
    I don't suppose it occurred to the Guv to check with his insurance department to find out why insurance companies might not be able to invest as VC's.

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