New Mexico Venture Capital Report 2024
New Mexico Venture Capital Report 2024
New Mexico Angels Releases Groundbreaking Report on Capital Flows in NM’s Startup Ecosystem
The New Mexico Angels has released a comprehensive new report analyzing venture capital flows in New Mexico’s startup ecosystem. This research provides critical insights into the state’s evolving investment landscape, helping shape policies and initiatives aimed at diversifying New Mexico’s economy beyond its historical dependence on oil and gas.
Key Findings:
- Venture capital investment in NM startups has grown at a compound annual growth rate (CAGR) of 90% over the past four years. With over $550 million in capital invested in 130 companies since 2019.
- The number of identified venture investment deals has increased by 500%.
- Biosciences lead in capital investment (40%), followed by aerospace, technology, and healthcare, which collectively account for another 40%.
- While early-stage investments (Pre-Seed and Seed) are strong, the number of Series A to C deals is lower, signaling an opportunity to enhance later-stage funding and exits.
- Despite significant investment growth, NM lags behind other states like Colorado and Michigan in startup exits.
“This report highlights the impressive momentum in New Mexico’s startup ecosystem, while also underscoring the need to strengthen later-stage investment and increase high-value exits,” said Drew Tulchin, President of NM Angels. “We’re committed to working with policymakers, investors, and entrepreneurs to ensure sustained growth and economic diversification.”
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