MDC Studio receives investment from the Verte Opportunity Zone Fund to build health and medical technology companies
The Verte Opportunity Zone Fund, Inc (of College Park, MD) has made an investment in the MDC Studio-Baltimore. The Studio was recently formed by the MDC Partnership as a platform for expansion and investment. The Studio houses all of MDC's current companies.
BALTIMORE, Aug. 4, 2021 /PRNewswire-PRWeb/ -- The Verte Opportunity Zone Fund, Inc (of College Park, MD) has made an investment in the MDC Studio Baltimore. The Studio was recently formed by the MDC Partnership as a platform for expansion and investment. The Studio houses all of MDC's current companies.
Federally designated opportunity zones (OZs) are found throughout the United States, and include many locations in Maryland. Startups located in these historically economically distressed zones have a commitment to creating jobs, fostering innovation, and creating social impact in the area. OZ investments are commonly utilized by real estate developers; however, the statute also supports investments in companies in OZs.
The Verte funds will be used to support R&D of new ideas, such as the Surgical Vision Systems Smart Bandage and Advanced Ultrasound Scanner, and the Shuriken next-generation GI feeding tube.
"We are naturally delighted by this investment from the Verte Fund. For the past two years, Dr. Mills and I have been discussing the natural synergy between the objectives of the Verte Fund and the development goals of the MDC Studio. With the creation of the MDC Studio, the timing is perfect," said Gil Blankenship, CEO of MDC.
About the Verte OZ Fund
The Verte OZ Fund, Inc. of College Park MD, the second fund managed by Dr. Leonard Mills, is a Qualified OZ Fund investing in high-growth, small businesses impacting OZs. The Verte OZ Fund aims to have a positive economic impact on communities, grow the entrepreneurial ecosystem, and provide attractive returns for investors. Ultimately, the Verte OZ portfolio will be diverse and comprised of many companies nationwide.
Unlike most OZ Funds, the Verte OZ Fund is designed to appeal to a broad array of investors, including those with realized capital gains, tax-advantaged (IRA), and taxable investments. The Verte OZ Fund is currently open to investors who are interested in taking part in impactful venture capital opportunities.
About the MDC Studio
The MDC Studio is the operational unit of the Maryland Development Center Partnership, which was founded in 2016 in Baltimore, Maryland. MDC Studio functions as a MedTech Startup Studio that provides engineering support, business development services, and funding to create and support companies commercializing medical devices. The Studio works with inventors to develop their ideas into working prototypes and marketable products, and form companies that will grow and create value for both their shareholders and all of society. MDC Studio Baltimore is located in the historic Wilkens-Robins building in the heart of Baltimore, near the University of Maryland Medical Center and Johns Hopkins Hospital, where MDC's founding partners and affiliates practice, teach, and research state-of-the-art surgery and medicine.
Media Contact
Nao Gamo, Maryland Development Center, 1 6173190394, [email protected]
SOURCE Maryland Development Center
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