Catalyst Fund recipient NMA Ventures has made its first seed investment. The fund has invested in Fusion Funnel, a software-as-service company that offers an automated solution for gathering sales intelligence, based in Santa Fe, New Mexico.
Governor Susana Martinez established the Catalyst Fund, Innovation Vouchers, the SBIR Matching Grant, and the Credit Enhancement Program to help homegrown New Mexico technology startups grow and thrive. Fusion Funnel is the fourth company receiving an investment.
“The investment from NMA Ventures provides Fusion Funnel the opportunity to reach its potential to be an influential player within the sales & marketing technology space,” said Fusion Funnel CEO Brad Morrison. “We’re excited to be part of the emerging New Mexico business landscape. As New Mexico continues to invest in its business infrastructure and offer incentives, there’s a lot of ways for us to maximize this opportunity, all while enjoying the amazing lifestyle we came here for in the first place.”
“We are proud to partner with NMA Ventures to continue supporting New Mexico's culture of innovation,” said Economic Development Cabinet Secretary Matt Geisel. “The Catalyst Fund helps our local companies get off the ground and succeed, creating new jobs and opportunities for New Mexicans.”
According to the Economic Development Department, NMA Ventures funds early-stage, high-technology companies based in New Mexico. NMA Ventures was created in 2017 by three New Mexico angel investors: John Chavez, Dorian Rader, and Sherman McCorkle.
“We are excited to announce our investment in Fusion Funnel,” said Managing Partner of NMA Ventures Dorian Rader. “Since our Fund’s inception, we have worked diligently to find the most innovative, growth companies with a robust team in New Mexico. We are confident that our capital can move the needle in accelerating growth in the market.”
In May, NMA Ventures received a $1.6 million commitment from the Catalyst Fund. The Catalyst Fund invests in emerging venture capital funds throughout the state. These venture capital funds invest in seed and early-stage technology companies. Sun Mountain Capital is the manager of the Catalyst Fund.
The Catalyst Fund capitalizes on New Mexico's history of successful research and development. New Mexico is well leveraged to develop and commercialize innovative technologies from its research universities and three federal laboratories.
The Catalyst Fund has made commitments to six funds: ABQid, Arrowhead Innovation Fund, BlueStone Venture Partners, Cottonwood Technology Fund, NMA Ventures and Tramway Venture Partners. These funds are bringing new seed and venture funding to the market.