Awarepreneurs - #1044: Awarepreneurs Interview

🔖 Titles

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1. How New Mexico Is Leading America With a $67 Billion Sovereign Wealth Fund 2. Building America’s Largest Sovereign Wealth Fund: New Mexico’s Bold Economic Future 3. Investing for Good: New Mexico’s Path to National Leadership With Its Sovereign Wealth Fund 4. From Oil to Opportunity: New Mexico’s Innovative $67 Billion Permanent Fund 5. New Mexico’s Sovereign Wealth Fund: Transforming Education, Startups, and Sustainable Impact 6. The Social Impact of New Mexico's Growing $67 Billion Sovereign Wealth Fund 7. Turning Resources Into Opportunity: Inside New Mexico’s Permanent Funds 8. New Mexico’s Secret Advantage: America's Fastest Growing Sovereign Wealth Fund 9. New Mexico’s Bold Bet: Investing Billions In Deep Tech, Education, and Economic Growth 10. The Power of Purpose: How New Mexico’s Sovereign Wealth Fund Shapes the State’s Future

💬 Keywords

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New Mexico Sovereign Wealth Fund, Permanent Fund, State Investment Council (SIC), Venture Capital, Deep Tech, Advanced Energy, Clean Tech, Economic Development, Early Childhood Funding, K12 Education Funding, Free Childcare, Free College, Trade School, Entrepreneurial Ecosystem, Rainy Day Fund, Higher Education Trust Fund, Rural Libraries Fund, Oil and Gas Revenue, State Lands Revenue, Fusion Energy, Geothermal Energy, Meta Data Center, Compound Returns, Fiscal Policy, Legislative Finance Committee, National Laboratories, Quantum Technology, AI, Mentorship, Infrastructure Development, Strategic Planning

💡 Speaker bios

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**Paul Zelizer: Short Bio in Summarized Story Format** Paul Zelizer is the founder and host of AwarePreneurs, recognized as the world’s longest running social entrepreneur podcast. Passionate about elevating the work of social entrepreneurs, Paul’s thoughtful interviews connect listeners with inspiring leaders driving positive change. Through his engaging platform, Paul empowers audiences to learn from innovative guests—like state investment officers or impact investors—while making the world a better place, one conversation at a time. With a commitment to building community and advancing the field of social entrepreneurship, Paul has become a trusted guide for those seeking purpose-driven business leadership.

ℹ️ Introduction

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Welcome to another episode of Awarepreneurs! In today's conversation, [Paul Zelizer](/speakers/A) sits down with [Jon Clark](/speakers/B), Albuquerque native and State Investment Officer for the New Mexico State Investment Council. Together, they dive deep into how New Mexico is on track to become home to America’s largest sovereign wealth fund—with $67 billion under management and projected growth to $100 billion by 2032. You'll hear how this massive investment portfolio not only supports a quarter of K-12 education funding and over three-quarters of early childhood programs in the state, but is also fueling a wave of innovation and economic growth. [Jon Clark](/speakers/B) shares how the Council has committed $1.7 billion to New Mexico-focused venture capital funds, catalyzing investment in sectors like advanced energy, deep tech, and aerospace. The episode explores New Mexico’s unique position: a relatively small state with enormous economic leverage, actively investing in its people and future. We’ll unpack the history and mechanics of sovereign wealth funds, what makes New Mexico’s model different, and the transformative impacts already taking shape—from free childcare and higher education to groundbreaking clean tech projects. Whether you’re an entrepreneur, investor, or simply curious about how values-driven investing can reshape communities, this episode offers an inspiring look at what’s possible when a state thinks big and leads with vision.

❇️ Key topics and bullets

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Here’s a detailed sequence of topics explored in this episode of Awarepreneurs with [Paul Zelizer](/speakers/A) interviewing [Jon Clark](/speakers/B): --- ### 1. Introduction to the Episode and Guest - [Paul Zelizer](/speakers/A) introduces the podcast and the guest, [Jon Clark](/speakers/B). - Brief overview of [Jon Clark](/speakers/B)’s background in New Mexico's economic and investment sectors. - Introduction of the episode’s central theme: New Mexico’s Sovereign Wealth Fund. ### 2. Overview of New Mexico’s Sovereign Wealth Fund (Permanent Funds) - Explanation of what a sovereign wealth fund is and its structure. - Historical context: how New Mexico’s funds were established and funded. - Current status: Size of the fund ($67 billion), its trajectory, and uniqueness. ### 3. Contribution of Permanent Funds to New Mexico - Key areas funded: K-12 education, early childhood programs. - The strategic significance of the fund overtaking oil and gas revenue. - [Jon Clark](/speakers/B)'s commitment to leveraging the fund for economic and social development. ### 4. Structure and Purpose of the 14 Different Funds - Description of individual funds: rainy day fund, Rural Libraries Fund, Higher Education Trust Fund, Early Childhood Trust Fund, etc. - Impact: Examples like funding for free childcare and college/training for New Mexico graduates. ### 5. New Mexico’s Unique Economic Position - Relative scale: Fund size vs. state population. - Comparison with other states having sovereign wealth funds. - Implications for per capita investment and innovation. ### 6. Social and Economic Impact on Residents - Transformative programming (free childcare, free higher education/training). - “Forgotten 50” to leader: Shifting perceptions and growing momentum in New Mexico. - Addressing long-standing socioeconomic challenges with robust resources. ### 7. Venture Capital & Entrepreneurial Ecosystem in New Mexico - Focus on SIC’s role in funding New Mexico-focused venture capital. - Recent changes and increased commitments to venture capital ($1.7 billion committed). - Collaboration with top-tier VCs and mechanisms for ensuring New Mexico benefits. - Success stories: Attraction of major clean tech and advanced energy projects (e.g., Pacific Fusion, XGS Energy and Meta). - Growth of support networks, mentorship, and retention of high-value companies. ### 8. Accountability and Benefit to Local Economy - Community concerns about venture capital allocation and actual impact on New Mexico businesses. - Monitoring and requirements for VCs to invest in New Mexico-based projects. - Tracking job creation and project commitments. ### 9. The Importance of State Leadership and Policy Choices - Discussion on legislative foresight: Setting aside oil and gas revenue. - Long-term impact of policies to stabilize and increase future revenue streams. - Senate Bill 26 (2023) and its transformative effect. ### 10. Addressing Calls for Increased Fund Deployment - Community questions: Why not use more of the funds to address immediate needs? - Explanation of the importance of compound returns and the dangers of drawing down the corpus. - Projections: $38 billion to be sent back to the state over the next 10 years. ### 11. Strategic Planning for New Mexico’s Future - Expanded budgeting possibilities (biennial budgets). - Advantage of long-term, stable funding for strategic planning. - Vision for improving rankings in education, economic development, health care, and more. ### 12. Broader National and International Positioning - Rebranding as “America’s Sovereign Wealth Fund.” - Attracting international investment and attention. - Largest targeted deep tech venture program in the US: Meaning and scope. - Collaborative opportunities for global scale investment and partnership. ### 13. Closing Perspectives and Calls to Action - [Jon Clark](/speakers/B)’s sense of hope and optimism for New Mexico’s future. - Encouragement for VCs, entrepreneurs, and stakeholders to engage with New Mexico. - Information on how to connect with the SIC for further opportunities. - [Paul Zelizer](/speakers/A)’s reflections and invitation to share the episode. --- This structure provides a comprehensive overview of the major topics and their associated subthemes as discussed throughout the episode.

📚 Timestamped overview

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00:00 "Investing in New Mexico's Future"

05:02 "Building America's Sovereign Wealth Fund"

08:10 "New Mexico's Unique Opportunities"

13:07 "Investing in New Mexico Future"

16:42 "Future-Proofing New Mexico's Revenue"

19:25 Ensuring Permanent Fund Benefits New Mexico

22:50 New Mexico's Clean Tech Opportunity

27:14 "Educating on State Fund Returns"

28:05 The Power of Compound Returns

33:37 New Mexico's Sovereign Fund Impact

36:22 Harnessing Non-Potable Water Reserves

38:43 "Deep Tech in New Mexico"

43:20 Building a Thriving Startup Ecosystem

44:47 Mentorship Fuels Entrepreneurial Success

48:15 "Partnering with Top Venture Funds"

51:34 "Midterm and Long-Term Planning"

54:43 "Bold Strategies for Impact"

🎞️ Clipfinder: Quotes, Hooks, & Timestamps

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Jon Clark 00:14:13 00:14:25

Viral Topic: Venture Capital Success in New Mexico
Quote: "They have just been so amazed with how easy it is to work with New Mexico state government to get projects going here that they are bringing more and more projects to us all the time."

Jon Clark 00:17:10 00:17:27

Viral Topic: Transformative Fiscal Leadership
Quote: "It is remarkable to have elected officials willing to set aside money that they could have tried to spend today, but recognize the value of growing that money and having it available as a continuing revenue stream is so much greater."

Jon Clark 00:18:29 00:18:42

Viral Topic: New Mexico's Economic Transformation
"Now the projection is that we are going to be providing the state growing revenues at least through 2050. And not only are they growing, but they're stable in a way that New Mexico has never experienced before."

Jon Clark 00:29:00 00:29:10

Viral Topic: The Power of Starting Early With Compound Interest: "But because of compound returns and because she started sooner, Mary has more money than John does upon retirement, even though John saved three times as much."

Jon Clark 00:35:33 00:35:51

Viral Topic: New Mexico's Visionary Use of Oil and Gas Revenues: "And I think that's something that we haven't done a good enough job of telling a story of is it's not just saving for the future, it's providing continuing funding streams where the money going to support these early childhood programs, to the rural libraries, to Water Trust for."

Jon Clark 00:36:52 00:37:03

Unlocking New Mexico's Hidden Water Reserves: "It is I think a little known secret how much water New Mexico actually has under its surface. We have incredible water reserves. The problem is that most of it is non potable."

Jon Clark 00:39:02 00:39:21

Viral Topic: New Mexico’s Deep Tech Advantage

"We have more PhDs per capita than anywhere else. And we do incredible deep tech research both at those national labs, at other research institutions, at nonprofits, at companies that absolutely has been a focus of New Mexico for decades and decades."

Jon Clark 00:40:54 00:41:02

Viral Venture Shift: "Now they're starting to see all this incredible activity in New Mexico and they're wondering, well, what's going on there? I need to pick up the phone and find out."

Jon Clark 00:45:44 00:46:00

Viral Topic: The Power of Mentorship in Startup Success: "it's not just the funding that they're providing, they're also providing mentorship to these entrepreneurs along the way way and making national connections for them which is so key to be able to access supplier networks and markets as well as peers across the country."

Jon Clark 00:48:21 00:48:26

Viral Interest in New Mexico Venture Funding: "It is remarkable the increase in interest that we've had from funds wanting to work with us."

🎬 Reel script

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New Mexico is stepping onto the national stage in a powerful way! In this episode, I talked with [Jon Clark](/speakers/B), head of New Mexico’s $67 billion State Investment Council, about how the state is on track to build America’s largest sovereign wealth fund. We dove into how these investments are fueling free college, free childcare, innovative water solutions, and a booming venture capital scene—especially in clean tech and deep tech. If you care about economic impact and bold, long-term vision, keep an eye on New Mexico!

👩‍💻 LinkedIn post

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Exciting News for New Mexico and the Future of Social Impact Investing! 🚀 I had the pleasure of listening to the recent [Awarepreneurs] interview with Jon Clark, State Investment Officer for the New Mexico State Investment Council, and walked away deeply inspired by what’s happening in the Land of Enchantment. With a $67 billion portfolio that’s on track to become the largest sovereign wealth fund in the U.S., New Mexico is setting the standard for how strategic, values-driven investing can directly improve lives and shape economies. Here are 3 key takeaways that really stood out: • **Massive Local Impact:** New Mexico's permanent funds already provide more than a quarter of all K-12 education funding and three-quarters of early childhood program funding statewide. Program expansions are enabling free childcare and college/trade school tuition for New Mexicans! • **Nation-Leading Venture Ecosystem:** With $1.7B committed to New Mexico-focused venture capital in just three years, the SIC is bringing world-class innovation and jobs to the state—especially in clean tech, deep tech, and advanced energy. Recent wins include billion-dollar projects poised to transform the state’s economic landscape. • **Visionary, Long-Term Thinking:** Thanks to forward-thinking leadership, New Mexico has turned oil and gas surpluses into stable, compounding investments. This growing, sustainable revenue stream is enabling real strategic planning for education, healthcare, economic development, and more—putting the state on a path to outpace many peers in positive social outcomes. New Mexico is no longer a “forgotten” state—it’s emerging as a national (and global) leader in social impact, innovation, and economic resilience. If you care about values-led investing and social entrepreneurship, keep your eyes on New Mexico! Full episode here [include link] #ImpactInvesting #SovereignWealthFund #SocialEntrepreneurship #NewMexico #Awarepreneurs

🗞️ Newsletter

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**Subject:** New Mexico’s Bold Move: Building America’s Largest Sovereign Wealth Fund --- Hi Awarepreneurs! If you’ve ever wondered how a small state can make a big impact, you’ll want to catch our latest episode featuring Jon Clark, State Investment Officer for the New Mexico State Investment Council. Hosted by our very own [Paul Zelizer](/speakers/A), this conversation is a deep dive into how New Mexico is poised to reshape its future—and maybe even help lead the nation—by building America’s largest sovereign wealth fund. ### What’s Inside This Episode? **1. New Mexico’s Sovereign Wealth Fund: $67 Billion and Growing** - [Jon Clark](/speakers/B) reveals that the state’s managed funds are on track to hit $100 billion by 2032, which will make it the largest in the country. - These funds produce vital revenue that’s projected to surpass oil and gas as the main contributor to the state’s general fund by 2043. **2. Major Social Impact: Free Childcare and College** - Permanent funds already cover over a quarter of all K-12 education funding, and more than three-quarters for early childhood programs. - The state is rolling out innovative initiatives, including free childcare for all families and free college or vocational training for high school grads. As [Paul Zelizer](/speakers/A) said in the episode, “You tell that story to somebody in another state or in another country, you do what for everybody? It’s like, yep, right.” **3. Investing in the Future – Venture Capital & Entrepreneurship** - New Mexico has committed $1.7 billion to venture capital funds focused on advanced energy, deep tech, aerospace, and defense—industries where the state has a “right to win.” - [Jon Clark](/speakers/B) discusses how the state’s smaller size allows entrepreneurs quick access to decision makers, making New Mexico a very attractive location for startups and VC funds. - Recent wins include billion-dollar clean energy projects with Pacific Fusion (fusion energy R&D campus) and XGS Energy/Meta (geothermal power plant). **4. A New Chapter: Economic Momentum & Strategic Planning** - The legislature’s visionary move (Senate Bill 26 in 2023) to invest surplus oil and gas revenues ensures stability, allowing New Mexico to finally do long-term planning. - “[Jon Clark](/speakers/B): I have a sense of hope to an extent that I’ve never had before. And I am so encouraged about where New Mexico is going.” **5. Opportunities for Impact-Driven Ventures** - If you’re a founder or venture fund leader looking for a place that puts big money behind big ideas, New Mexico is now on the map—regionally, nationally, and globally. [Jon Clark](/speakers/B) invites anyone interested to reach out to the SIC team and learn how to get involved. --- **Don’t Miss This Episode!** If you’re passionate about social impact, innovative funding, or seeing a state rise from underdog status to national leader, this conversation will inspire you. 🎧 **Listen now** and discover how impact investing and visionary leadership are changing the story in New Mexico. **Share the episode** with a founder, investor, or anyone excited about bold moves for positive change! Until next time, The Awarepreneurs Team --- P.S. If you’re ready to develop a bold strategy for your own impact business, check out [Paul Zelizer’s strategy sessions](http://www.paulzelizer.com). Let’s create a future worth getting excited about!

🧵 Tweet thread

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🚀 THREAD: New Mexico is Building America's Next Big Sovereign Wealth Fund – & Changing the Game for Social Impact 💰🌎 👇 Read on to see how a "forgotten" state is making billion-dollar moves that could inspire the nation! 1/ Did you know New Mexico now manages a $67 BILLION (yes, with a "B") #SovereignWealthFund? Led by [Jon Clark](/speakers/B), this fund is on track to become the LARGEST in the United States in the next 5-7 years. 2/ That’s not just cash sitting around. The SIC projects the fund will overtake oil & gas as the TOP contributor to the state’s General Fund by 2043. 🤯 This #SustainableFinance model is helping NM break free from the “boom and bust” oil/gas cycle. 3/ Why does this matter? Let’s talk tangible IMPACT: - Over 25% of all K-12 education funding comes from these investments - 78% of all early childhood program funding is generated here - Free child care & college for every NM student, cradle-to-career education! Talk about putting $$$ to work! 🎓🧒 4/ NM is using its Permanent Funds to invest in real opportunities: - $1.7B invested in NM-focused venture capital - Advanced energy, deep tech, aerospace, defense - Thousands of high-quality jobs incoming [Jon Clark](/speakers/B): "The goal? Grow the state's economy & elevate the standard of living.” 5/ But wait, there’s more… Thanks to smart moves by legislators, New Mexico will send $38B+ to fund state needs over the next decade — all WHILE growing the principal for future generations (hello, compound interest!). Sustainable, strategic, & future-focused! 🔁 6/ What’s unique? NM’s population is just 2.1 million. That’s a $67B fund FOR a state smaller than Houston! Big fund, “small” state = HUGE impact per capita. 🏆 7/ And it’s not just about $ — NM’s using its fund to build a startup & innovation ecosystem most states can only dream of: - Top-tier VC partners required to invest IN-STATE - Mentorship, access to decision makers, collaboration across sectors - Companies relocating here. Deals like $1B fusion energy campuses? Happening now! 8/ This is NOT the New Mexico of 1993, or even 2013. This is a state turning natural resources into generational opportunity, thanks to bold, strategic planning. [Jon Clark](/speakers/B): “We have enough funding to solve challenges most states are just starting to THINK about.” 9/ What can the country learn? That with vision, policy, & strategic investment, even a “forgotten” state can become the envy of all. New Mexico is building America’s Sovereign Wealth Fund — & inviting international investors to ride the wave. 🌊 10/ Share this thread if you want to see more bold, values-driven investment models like this in your state! 🗺️ 👇👇 What questions do you have about New Mexico's fund or permanent fund investing? Drop them below! #ImpactInvesting #SocialImpact #VentureCapital #StatePolicy — (Transcript: @awarepreneurs podcast feat. [Paul Zelizer](/speakers/A) & [Jon Clark](/speakers/B))

❓ Questions

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Absolutely, here are 10 discussion questions based on this episode of Awarepreneurs featuring [Paul Zelizer](/speakers/A) and [Jon Clark](/speakers/B): 1. [Jon Clark](/speakers/B) shared that New Mexico’s sovereign wealth fund is on track to become the largest in the United States. What are the potential risks and opportunities that come with managing such a significant fund for a relatively small state? 2. The episode emphasizes the role of the permanent funds in funding education and early childhood programs. How might this approach transform long-term outcomes for New Mexico’s children, and what challenges might arise in implementing these programs? 3. [Paul Zelizer](/speakers/A) and [Jon Clark](/speakers/B) discussed the importance of investing in venture capital focused on New Mexico-based startups. How can other states emulate this strategy to spur local innovation and economic growth? 4. With 14 different funds managed by the SIC, what are the benefits of having distinct, purpose-driven funds versus a single, consolidated fund for state investments? 5. The conversation touched on New Mexico’s history as a “forgotten state” and its recent momentum. How do you think shifting economic narratives and investment strategies could influence the state’s reputation nationally and internationally? 6. The episode highlighted the significance of legislative decisions to invest surplus oil and gas revenue into permanent funds. What lessons can other resource-rich states learn from New Mexico’s foresight in securing their financial future? 7. [Jon Clark](/speakers/B) described the challenge of ensuring venture capital investments directly benefit New Mexico, rather than just opening a mailbox in the state. What mechanisms would you suggest to ensure genuine local impact from outside investors? 8. The podcast referenced major clean tech investments such as Pacific Fusion and XGS Energy. In your opinion, how can targeted investments in advanced energy and climate tech help diversify New Mexico’s economy and create sustainable jobs? 9. Water management and research were mentioned as key beneficiaries of New Mexico’s investment approach. How can innovative funding solutions like sovereign wealth funds accelerate progress on complex issues like water scarcity in arid regions? 10. [Jon Clark](/speakers/B) concluded with a message of hope for New Mexico’s future. What are the critical next steps for the state to turn this financial promise into tangible improvements in areas like education, health care, and crime reduction over the next decade? Feel free to use these questions to spark group discussions, individual reflection, or deeper analysis of the topics raised in the episode!

🪡 Threads by Instagram

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1. New Mexico is rewriting its story—leveraging a $67B sovereign wealth fund to power education, clean tech, and innovation. This isn’t just smart economics; it’s culture-changing vision for a forgotten state rising up. 2. Imagine growing up in a place offering free childcare, college, and bold climate tech careers. That’s New Mexico today. [Jon Clark](/speakers/B) and [Paul Zelizer](/speakers/A) reveal how cultural investment creates real opportunity. 3. With more PhDs per capita than anywhere else, New Mexico is building a deep tech future. Funding innovation locally means we keep homegrown talent—and shape a culture of possibility for generations. 4. A sovereign wealth fund of this scale means new cultural narratives. As New Mexico invests in water, libraries, and clean energy, community conversations shift from scarcity to strategy and hope. 5. Culture transforms when leaders invest for the long term, not just today. [Jon Clark](/speakers/B) shares how smart policy sparks hope—and moves New Mexico’s narrative from overlooked to pioneering.

SEO Description Summary

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In this Awarepreneurs episode, [Paul Zelizer](/speakers/A) interviews [Jon Clark](/speakers/B) about New Mexico's rapidly growing $67 billion sovereign wealth fund, its vital support for education and early childhood programs, robust venture capital for startups, and transformative impact on the state’s economy, positioning New Mexico as a leader in social entrepreneurship and advanced energy.

LinkedIn Thought Leader post

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Post 1 Did you know New Mexico is on track to have the largest sovereign wealth fund in America? How could this massive resource transform innovation and social entrepreneurship here—and beyond? What if your startup could be part of a $67 billion ecosystem committed to impact? On the Awarepreneurs podcast, host [Paul Zelizer](/speakers/A) sat down with Jon Clark, State Investment Officer of the New Mexico State Investment Council, to dive deep into this incredible development. Jon shared: “New Mexico is open for business both at the individual company level, but also for investors who are wanting to grow their funds. This is a great place to do it.” [Paul Zelizer](/speakers/A) and Jon explored how New Mexico’s strategic investments are fueling advanced energy, deep tech, and early childhood programs—bringing thousands of high-quality jobs and elevating the standard of living for residents. Key takeaway: New Mexico’s sovereign wealth fund is a powerful engine for both economic development and social impact. Now is the time for entrepreneurs and investors to pay attention. Are you considering leveraging public-private partnerships or state-level funding in your next venture? Join the conversation below, and check out the full podcast for more insights on building with purpose. --- Post 2 Did you know that New Mexico's permanent funds already contribute more than a quarter of all funding for K12 education—and a majority of early childhood programs? How might sustainable, long-term state investments reshape education, health, and innovation for generations? What could your business or nonprofit achieve in a state leading the way for impact funding? On Awarepreneurs, [Paul Zelizer](/speakers/A) recently hosted Jon Clark to discuss how New Mexico’s $67 billion portfolio is fast becoming the largest in the nation—and how it’s being harnessed to address the state’s toughest challenges. Jon noted, “We have enough funding to solve a lot of challenges that states across the country are trying to solve today. But we actually have the money to be able to do it, whereas a lot of other states are only able to think about it.” [Paul Zelizer](/speakers/A) highlighted how the state is attracting top-tier venture funds, supporting deep tech and clean energy, and ensuring long-term, strategic planning for outcomes in education and beyond. Key strategy: Be proactive in building relationships with state investment councils and local innovation hubs—especially those driving funding into high-impact sectors. How are you connecting with local impact ecosystems or public funding sources? Let us know your thoughts, and catch the full Awarepreneurs episode for practical tips on scaling social impact through state investment.

Key takeaways

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1. New Mexico’s Sovereign Wealth Fund is Transforming the State New Mexico’s $67 billion sovereign wealth fund—on pace to become the largest in the U.S.—is powering a new era of economic stability, educational opportunity, and forward-thinking investment, moving the state beyond its historic boom-and-bust oil dependency. "As a result of this one bill that the legislature passed and the governor signed, now the projection is that we are going to be providing the state growing revenues at least through 2050. And not only are they growing, but they're stable in a way that New Mexico has never experienced before. We've always been so subject to the boom and bust swings of the oil and gas industry. And now New Mexico has this growing stable revenue source...you can start doing some long term strategic planning that just was never possible before..." 2. Strategic Investment in Education, Social Infrastructure, and Deep Tech The fund’s returns are already transforming the state’s prospects, providing critical support for free childcare, free higher education, rural libraries, and ambitious programs in water and advanced energy—while also catalyzing the nation’s largest state-backed deep tech venture ecosystem. "This is providing 78% of all funding for early childhood programming. And it's also going to enable the state's new program that starts next month that provides for free child care across the state. New Mexico is going to be a very unique place in this country where we care for its people. Cradle to career. And these permanent funds that we manage play a significant role in how we're able to do that." 3. Building an Inclusive, High-Impact Entrepreneurial Ecosystem By leveraging the fund’s resources, New Mexico is becoming a magnet for top-tier venture capital, innovation, and high-quality jobs—fostering an environment where in-state startups can thrive beyond the "valley of death" and national/global investors see the state as “America's sovereign wealth fund.” "We are now able to work with top tier venture capital groups across the country, invest with them, and then say, you know, we're giving you 20% of the value of this fund. In return, we expect you to invest 20% of that total fund value into New Mexico...And they have just been so amazed with how easy it is to work with New Mexico state government to get projects going here that they are bringing more and more projects to us all the time."

Leading question

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What if a desert state you barely noticed was quietly building the largest and most innovative sovereign wealth fund in America—transforming education, economic opportunity, and clean tech for generations to come? These are just a few of the provocative questions we explored with Jon Clark on the latest Awarepreneurs podcast episode, hosted by our very own [Paul Zelizer](/speakers/A).

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