FOR IMMEDIATE RELEASE:
Alaska SSBCI Tribal Consortium Announces Launch of $23 Million Venture Capital Fund Request for Proposals
ANCHORAGE, AK – The Alaska Small Business Development Center (SBDC)’s Tribal Small Business Credit Initiative (TSBCI) program is requesting proposals from private sector investors to create venture capital funds that support Alaska’s small business sector. This RFP will match up to $22.9 million in private-sector funding to create $46 million in new venture capital funds. These funds will invest in small businesses operating in Alaska, with the goal of generating new economic opportunity and growth across the state.
This funding opportunity is made possible through a consortium of 125 federally recognized Alaskan tribes under the State Small Business Credit Initiative (SSBCI) and administered by the University of Alaska Anchorage’s Alaska SBDC. This program has received funding from the United States Treasury to invest in small businesses across Alaska.
The investment funds created through this RFP will provide critical support to small businesses, including those in Tribal, rural, and underserved communities, as well as very small businesses (VSBs, with fewer than 10 full-time employees) across the state. This initiative will unlock new creative funding opportunities for Alaskan businesses, fostering growth and stimulating economic activity within the state’s small business sector.
Since its launch in August 2024, the TSBCI Consortium has made a significant economic impact, successfully deploying $40.6 million in funding through 28 loans. These loans have benefited 26 businesses across 14 communities in Alaska, showcasing the initiative’s rapid and transformative effect in just a few months.
“The Alaska SBDC is proud to be able to work with the 125 Alaskan tribes in the SSBCI Tribal Consortium to bring this new funding opportunity to the state. Equity funding is an important tool to help grow the state’s economy and provide more opportunities for private sector investment in Alaska’s small businesses,” said Alaska SBDC State Director Jon Bittner.
Request for Proposals
The Alaska Tribal Venture Capital Fund is seeking proposals from eligible investment entities to create and manage investment funds that will deploy venture funding into eligible small businesses throughout the state. Qualified investors and investment groups are encouraged to submit proposals for new venture capital investment funds on or before 3:00 PM AKDT on April 30, 2025.
How to Apply
Proposals must be submitted electronically via the secure Fund Applicant Folder, which will be provided by TVCF upon request. Email tsbci@aksbdc.org with Fund Applicant Folder Request in the Subject Line of the message to receive designated Folder. In the body of the message, provide the name and email address for at least two individuals within your organization to whom we will provide access to upload documents. Early submission is encouraged.
RFP applicants are encouraged to monitor the TVCF website for updates and posted questions and answers. All questions submitted will be compiled and posted on the website.
For more information about the Tribal SSBCI Venture Capital Fund RFP, visit https://aksbdc.org/ssbci/venture-capital-tribal-funds/.
###
(476 words)
Media Contact: Harley Tennant
Marketing & Communications Director
(907) 786-7276 | Email