The state-backed Slater Technology Fund is “optimistic” about fiscal 2008, “after significant success in the fiscal year ending June 30,” the state-backed venture capital fund said last week...

...During the year ended June 30, Slater approved or completed $3.1 million in funding of 11 technology-based ventures, a total second only to the previous fiscal year’s record $3.5 million...

...The fund’s eventual goal is to achieve sufficient returns on investment that it will become self-sustaining. So far, however, it continues to rely on state financing.

“The sustained level of commitment shown by … the Carcieri administration, as well as the General Assembly,” has been “particularly gratifying,” Horan said. That commitment was renewed at the end of the fiscal year, in the amount of $3.0 million – the same amount the fund has received in each year of the past 10 years.