Mayor Anthony Williams and District Government officials recently celebrated the kick-off of the DC Certified Capital Company (CAPCO) Program.
Through CAPCO, insurance companies are provided a DC tax credit against their premium taxes in exchange for making available $50 million in long-term equity and debt for new or expanding small businesses based in DC.
CAPCO’s purpose is to stimulate the creation of high-wage jobs, create and foster a local venture capital infrastructure within the District and produce an incentive to bring out-of-state companies to Washington, DC
Three companies have been certified by the District Council to provide the $50 million in equity and loans over 10 years, they are:
Enhanced Capital District Fund $25.9M Administered by Dwight Bush
Advantage Capital $10.9M Administered by Doug Beekman
Wilshire DC Partners LLC $13.1M Administered by Matthew Ash
For companies interested in learning more about the CAPCO investment, visit the District’s Department of Insurance, Securities and Banking website.