CO SB174

Establishes a fund of funds advisory board consisting of nine members appointed by the Governor (5), President of the Senate (2), and Speaker of the House (2), with members required to have experience in venture capital, investment banking, or related fields.

Requires the advisory board to prepare a report by February 1, 2012, analyzing existing state fund of funds models, recommending whether Colorado can implement one, proposing an optimal structure, and identifying potential public funding sources.

Orders the advisory board to present the completed report to the finance committees of both chambers by March 1, 2012, with a copy posted on the Colorado economic development commission website.

Board members serve without compensation or expense reimbursement, with initial terms expiring July 1, 2012, and the entire advisory board provision is repealed effective July 1, 2012.

Addresses a critical shortage of seed and venture capital in Colorado by creating a mechanism to study fund of funds as a vehicle to deepen capital pools and retain entrepreneurs in the state.