TEDCO Chooses Collide Capital to Manage SSBCI Funds to Foster Innovation in Maryland

TEDCO Partners with Collide Capital for Fund Management

Columbia, Maryland, July 18, 2025 — TEDCO, recognized as the economic engine for technology startups in Maryland, has made a significant decision by selecting Collide Capital as one of the early-stage venture capital funds. This partnership aims to facilitate the management and investment of up to $10 million allocated by the State Small Business Credit Initiative (SSBCI) from the U.S. Department of the Treasury.

Collide Capital emerges as the third venture fund to join hands with TEDCO, and it promises to focus on future technological innovations. Collide Capital is a $66 million venture capital firm that is primarily African-American owned.

Commitment to Inclusive Growth

Brian Hollins, co-founder and managing partner at Collide Capital, emphasized the alignment of TEDCO’s mission with their firm's objectives. He stated, "Our commitment to creating opportunities ensures that capital is allocated to the most deserving applicants rather than the most privileged ones." This partnership is expected to enhance the business ecosystem in Maryland, laying down seeds for future growth and collaboration.

The venture capital firm stands dedicated to empowering diverse entrepreneurs by leveraging resources, networks, and hands-on support. Collide Capital has thus far supported over 50 founders, with more than 80% identifying as African-American, Latino, or women, indicating a strong commitment to inclusivity within the venture capital space.

Financial Backing and Ecosystem Development

The announcement follows TEDCO’s previous revelation that it would receive an allocation of up to $50 million from the SSBCI initiative. These funds are designated to support beneficiaries of venture capital, seed capital funds, and social impact funds under TEDCO, in addition to $10 million assigned to the Equity in Venture Capital program. Notably, TEDCO has already designated funds to 100KM Ventures and AIN Ventures, confirming its ongoing dedication to fostering a diverse and sustainable ecosystem in the state.

Troy LeMaile-Stovall, TEDCO’s CEO, remarked on the partnership with Collide Capital, expressing excitement about broadening their reach and supporting underserved communities. He stated, "This collaboration exemplifies our ongoing commitment to nurturing a merit-based, inclusive ecosystem throughout Maryland. By partnering with Collide Capital, we aim to close systemic gaps and enable innovative advancements."

Conclusion and Future Outlook

As TEDCO continues its mission to enhance the economic landscape for technology businesses across Maryland, its collaboration with Collide Capital represents a significant step towards expanding support for underrepresented groups in the entrepreneurial landscape. Together, they strive to create a more vibrant and equitable future through responsible investment and, ultimately, innovation.

For more detailed information on the SSBCI venture capital funding, please visit TEDCO’s official website at www.tedcomd.com.

Media Contacts:
Tammi Thomas, Director of Development and Marketing, TEDCO
Email: [email protected]
Rachael Kalinyak, Associate Director of Marketing and Communications, TEDCO
Email: [email protected]