The Ohio General Assembly enacted the Ohio VC Statute (Ohio Revised Code) for the purpose of increasing the amount of private investment capital available in this state for Ohio-based business enterprises in the seed or early stages of business development and requiring initial or early stage funding.

To accomplish this purpose, the Ohio VC Statute created the Ohio Venture Capital Authority (the "OVCA"), a public body authorized to implement the Ohio VC Statute. The Ohio VC Statute also authorized the creation of a fund of funds to make investments in underlying venture capital funds in accordance with an investment policy to be devised by the OVCA.

The Ohio Capital Fund has been established to serve as the fund of funds contemplated by the Ohio VC Statute. The Investment Policy is the investment policy that the OVCA has devised pursuant to the Ohio VC Statute to govern The Ohio Capital Fund's investment activities.