#United States #Albuquerque #Tierra Adentro #New Mexico Fund #TAG Capital

Tierra Adentro Growth Capital Launches New Mexico Strategy

Tierra Adentro Growth Capital (TAG Capital) has proudly unveiled its ambitious strategy for New Mexico, marking a significant investment of $100 million aimed at enhancing the state's tech landscape. With a focus on catalyzing next-generation technology companies, the Tierra Adentro Fund is designed to finance essential infrastructure that will support innovation in the region.

The inception of this fund stems from extensive discussions with the New Mexico State Investment Council (SIC), which manages a colossal $70 billion sovereign wealth fund. TAG Capital's goal is to bridge the investment gap existing between SIC's venture financing primarily in advanced energy, deep tech, and aerospace/defense, and the additional capital needed to nurture these industries locally.

The Tierra Adentro Fund will primarily target investments that range from several million to up to $40 million, strategically tailored to meet the specific needs of emerging companies. The fund's first investment has already been made in Zanskar, known as the world's first AI-native geothermal energy developer. TAG Capital anticipates concluding its second and third investments in the coming months.

Leading the charge at TAG Capital is Managing Partner Alok Sindher, who also serves as the Chief Investment Officer. Sindher brings over 20 years of robust experience in infrastructure investment, making him a key player in the company’s vision. “We aim to empower entrepreneurs looking to expand in New Mexico,” he noted. “Our innovative funding model allows these founders to retain more autonomy and ownership while scaling their companies.”

The partnership between TAG Capital and the founders of J2 Ventures, Alexander Harstrick and Jonathan Bronson, further strengthens this initiative. J2 Ventures, based in Boston and partly backed by SIC, is focused on fueling early-stage companies that are pioneering groundbreaking technologies across various sectors, including advanced computing and biotechnology.

According to Harstrick, the demand for investment opportunities within the Tierra Adentro fund is higher than its current capacity. “The fund has garnered more interest than we can handle at this moment, and we haven’t even begun marketing,” he stated. This enthusiasm places the potential for job creation in New Mexico in the hundreds, while ensuring SIC's capital consistently focuses on developing the state’s key sectors.

As New Mexico’s ecosystem continues to evolve, driven by the SIC’s Strategic Venture Capital Program—which has allocated $1.8 billion to top-tier venture funds in the last three years—the alignment with Tierra Adentro's strategy is clear. Chris Cassidy, the Director of Private Equity and Venture Capital at the SIC, emphasized the importance of this fund in enhancing New Mexico’s appeal to the deep tech sector. “The demand and consolidation within major infrastructure platforms highlighted a tremendous opportunity for New Mexico,” he explained. “Tierra Adentro's offering fulfills a crucial need.”

The New Mexico Economic Development Department has also played a role in increasing awareness of the incentives and partnerships available within the state. Economic Development Secretary Rob Black emphatically stated, “New Mexico is a prime location for business development, and collaborations like this ensure that top talent is aware of the opportunities here.”

About the Tierra Adentro Fund

The Tierra Adentro Fund represents a new chapter in investment strategies, providing essential capital for the advancement of infrastructure aimed at meeting the demands of American reindustrialization within New Mexico. The fund is positioned to offer innovative growth capital solutions across a variety of sectors, including advanced manufacturing and energy. More information can be found at TAGrowth.com.

About the New Mexico State Investment Council

Established in 1958 to manage surplus revenues from oil and gas production, the New Mexico State Investment Council (SIC) is among the largest sovereign wealth funds in the United States, with assets exceeding $71 billion. The SIC plays a crucial role in funding essential services for New Mexicans, projecting a $42 billion return over the next decade. For additional details, visit sic.state.nm.us.