49th State Angel Fund

The 49th State Angel Fund is a venture capital fund established by the Municipality of Anchorage to provide an evergreen source of capital to high-growth, early-stage businesses in Alaska. It was initially capitalized with a $13.7 million federal allocation from the U.S. Treasury. The fund invests both directly into companies and as a Limited Partner in other private-sector managed funds with a local focus. It is managed by Alyeska Venture Management and also runs the Alaska Accelerator Fund, a key initiative and one of its managed funds. The fund's mission is to promote entrepreneurship, foster innovation, and create jobs and economic benefit for Anchorage.