Technical.ly Baltimore: David Wise Named Director of University System of Maryland’s Early-Stage Investment Fund
Friday, August 11, 2017
Wise will lead the Maryland Momentum Fund, which was created to provide more funding for USM-affiliated startups.
The University System of Maryland recently named a leader for its early stage investment fund that is seeking to back early-stage startups.
On July 24, David Wise began as director of the Maryland Momentum Fund.
Initially announced last year and launched in March, the fund is seeking to provide early-stage capital that can help develop startups that launch out of research and inventions that originate at state universities. Startups working at USM-affiliated incubators or other facilities such as the University of Maryland BioPark in Baltimore are also eligible, as well as those founded by Maryland grads.
The fund has an initial commitment of $10 million from the University System of Maryland, and leaders want it to grow to $25 million.
Wise brings experience working with startups in the region.
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