Thursday, January 7, 2010

SBA Looks To Take Over SmartForest Ventures

The U.S. Small Business Administration is looking to take over Portland-based venture capital firm SmartForest Ventures. According to the SBA, the firm failed to maintain appropriate capital impairment levels, in an issue which has been going on since 2006. The SBA had committed $33.5M to the firm. SmartForest has made investments in local companies such as Attensa, KryptIQ, Phoseon, SignaCert, NexPlanar, and Teseda. The move was first reported by the Portland Business Journal.