$32.1 million in bonds for Ohio Capital Fund

The Columbus-Franklin County Finance Authority has issued $32.1 million in bonds for the Ohio Capital Fund, a fund of funds overseen by the State’s Venture Capital Authority. The taxable research and development revenue bonds will be used to refinance existing debt and raise additional funds to support venture capital investments in Ohio. The Ohio Capital Fund invests in private-capital venture funds to raise money for local technology firms. This is the third financing the Finance Authority has issued on behalf of the Ohio Capital Fund.

The bonds, rated AA- by Standard & Poor’s, carry a refundable tax credit as credit enhancement from the State. The Ohio Venture Capital Authority has the ability to issue up to $380 million in tax credits for this program, capped at $20 million per year.

The Finance Authority has issued over $641 million in bond financing projects that will invest more than $820 million and facilitate over 5,290 jobs in Central Ohio. The Finance Authority offers creative and alternative financing tools to new and existing companies looking to expand or relocate services to the area. The Finance Authority also
provides assistance to community development projects.

The Finance Authority gratefully acknowledges support received from the Franklin County Board of Commissioners and the City of Columbus.