New Jersey Economic Development Authority invests in early stage companies and promotes local commerce. They have funds for early and expansion-stage companies, that match the private investment they get from angels and VCs. Some of the funds:
The Edison Innovation Angel Growth Fund (www.njeda.com/AngelGrowthFund) provides up to $250,000 in subordinated convertible debt financing for technology companies with minimum trailing 12 month commercial revenues of $500,000...