Silver State Opportunities Fund invests $2 million in Reno business


The Silver State Opportunities Fund LLC announced Monday its first in-state private equity investment, a $2 million venture with Miller Heiman Inc., a 30-year-old sales consultant and training firm in Reno. The company employs 35 people in Northern Nevada.

Miller Heiman CEO Sam Reese said the investment will be used to expand the business, creating additional employment opportunities statewide.

The $50 million private equity fund is overseen by the Nevada Capital Investment Corp., which Senate Bill 75 created after being approved during the 2011 Legislative Session.

Hamilton Lane, which has an office in Las Vegas, developed an investment plan and is responsible for selecting the investments in Nevada.

For its first investment, Hamilton Lane partnered with Providence Equity Partners, which acquired Miller Heiman on Jan. 9. Terms of the transaction were not disclosed.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.