NH BFA Early Stage Capital

NH BFA Early Stage Capital is the New Hampshire Business Finance Authority's equity route for startups, delivered through partner investment vehicles rather than direct public grants. The program sits under the state's broader finance umbrella and channels capital into New Hampshire companies that are ready for early ownership investment. The route is rolling and uses equity. The Granite Fund was built with $4.5 million from BFA and $20 million of private match and is now fully invested, while the Vox Health Fund remains active in life sciences and digital health. Millworks Fund II is also active, with a $600,000 annual allocation delivered through TechOut and AlphaLoft for companies preparing to expand in New Hampshire. This is a better fit for founders seeking patient equity and investor support than for applicants looking for a grant competition. The clearest opportunities are in life sciences, digital health, and other NH startups that can use partner capital to move toward expansion.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.