Finance New Mexico
https://financenewmexico.org/funding/grants-funding/venture-acceleration-fund-2/

Venture Acceleration Fund

The Venture Acceleration Fund (VAF) makes investments in early-stage and growth-stage businesses. Established in 2006 as a grant program by Los Alamos National Laboratory LANL), VAF changed in 2014 to include funding payback that is triggered by defined conditions. Under the new protocol, VAF is structured as an interest-free loan, with repayment only if a company is acquired, achieves certain revenue goals or leaves New Mexico within a specified time frame. Payback trigger ensures funds are available to assist additional eligible companies in the future. Read the full terms here: vafnm.org/terms. Companies located in these northern New Mexico counties are eligible: Los Alamos, Santa Fe, Sandoval, Rio Arriba, Taos, San Miguel and Mora.

While VAF is largely funded by Los Alamos National Laboratory and other economic development organizations, which contribute to the total amount available. For example, in 2015, LANL contributed $83,000, New Mexico Manufacturing Extension Partnership (NM MEP) contributed $25,000, Santa Fe County contributed $20,000, and Los Alamos County contributed $16,000 to the $144,000 total fund.