The State of the State of Rural Colorado VC

When GCVF was conceived in 2017, we seemed a bit crazy.

Thankfully, a top-tier group of advisors, investors, and community champions came together to assure us that we were the good kind of crazy. With their support, we embarked on a venture capital model for rural America, which we affectionately call GCVF Fund I. This could have only happened in Rural Colorado.

We have coal communities in transition, ski towns in search of transition, small cities akin to the rust belt, ag and ranching hubs, underground tech scenes, liberal bubbles, conservative strongholds, mega-wealth, and entrenched poverty. GCVF bet that this collage, combined with Colorado’s unique ability to collaborate across divides, would give birth to the nation’s first rural startup community.

Nearly 300 community visits, thousands of miles, and 24 investments later, we have found the Rural Coloradoans inventing our future.

Then came COVID. Our thesis arrived years ahead of schedule as the world began to rethink what it values.

As a result, GCVF spotted opportunities to improve how we operate as a VC fund. For example, we launched a remote pitch event, integrated bias-mitigation into our selection processes, and pushed ourselves to grow our networks. We’ve still got a long ways to go, but it is the type of hard work we exist to embrace.

Concurrently, the secret of Rural Colorado is out. We had five companies sell, each of which retained its small-town headquarters. Numerous co-investors made their first Rural Colorado investment alongside GCVF. Perceived barriers to talent and expertise were shattered as remote was embraced. And yes, a lot of people relocated to our hometowns, recognizing the perks of a Rural Colorado lifestyle we’ve long-known.

While COVID is not over, 2021 marked the first year in this new operating environment.

The pace of change may be dizzying, but we are excited as ever to invest in Rural Colorado’s future.