A. The Oklahoma Center for the Advancement of Science and Technology (OCAST) shall create an 'Invest In Oklahoma' program to provide entities in this state with funds for opportunities to invest in Oklahoma-based private equity funds, venture capital funds and growth funds. Opportunities for investment shall also include private equity funds, venture capital funds and growth funds that make substantial investments in this state. B. OCAST shall select venture capital and growth funds to qualify for investments within the Invest In Oklahoma Program based on factors including but not limited to:1. Rate of return;2. Years of operation;3. Sufficiency of capitalization;4. Investment performance track record;5. Differentiation and sustainability of investment strategy;6. Fee structure;7. Background of limited partners; and8. Ratio of capital invested in this state.C. OCAST shall exercise judgement and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, for investment, considering the probable safety of their capital as well as the probable income to be derived when determining qualifying intelligence exercise in the management of their own affairs, for investment, considering the probable safety of their capital as well as the probable income to be derived when determining qualifying venture capital and growth funds to ensure the funds are being appropriately managed and invested.D. OCAST shall develop a request for proposal that includes the factors provided in subsection B of this section. OCAST shall maintain a list of available venture capital and growth funds which are participating in the Invest In Oklahoma Program in which public entities are encouraged to invest.Added by Laws 2021, c. 309, § 2, eff. Nov. 1, 2021. Amended by Laws 2024, c. 375, § 2, emerg. eff. June 5, 2024.
Oklahoma Legal Code