Arkansas Development Finance Authority

The Arkansas Development Finance Authority (ADFA) is a government agency based in Little Rock, Arkansas, established in 1985. It serves as an economic development agency that provides financing for affordable housing and various business projects. ADFA's enabling legislation allows it to borrow money and issue bonds, facilitating funding for capital improvements and economic development initiatives. The agency manages its funding activities through two primary categories: Development Finance and Affordable Housing Development. By administering tax-exempt bonds and other debt instruments, ADFA aims to support the financing needs of both housing and economic development sectors in the state.

Mark Conine

Chief Financial Officer and Vice President of Finance and Administration

Brad Henry

Vice President Development Finance

Cheryl Schluterman

Vice President, Finance and Administration

Robert "Ro" Arrington

Director Of Public Finance

3 past transactions

BlueOak Resources

Venture Round in 2014
BlueOak Resources operates as an e-waste mining company focused on extracting valuable metals from end-of-life electronics. Founded in 2011 and based in Palo Alto, California, the company aims to promote resource and capital efficiency by building distributed mini-refineries. These facilities utilize established refining processes to recover precious metals and rare earth elements from electronic waste. BlueOak envisions transforming the management of e-waste by turning it into a sustainable source of critical metals needed for future technologies. Through its innovative approach, the company seeks to contribute to a more sustainable and circular economy.

Ascendant Dx

Venture Round in 2014
Ascendant Dx, LLC, a biotech company, is engaged in the research, development, and commercialization of proteomics-based diagnostic tests for women and children. The company focuses on cancer, autoimmune diseases, and serious childhood afflictions. It develops MelodyDx, a proteomics-based diagnostic screening test for the detection of breast cancer using tear samples. Its product is designed for testing in laboratories, as well as clinics, hospitals, home care, and for patient self-testing. Ascendant Dx, LLC was formerly known as Ascendant Diagnostics, LLC. The company was founded in 2010 and is based in Springdale, Arkansas.

Btiques

Seed Round in 2012
Btiques, Inc. provides an online and mobile marketplace that connects users with products from participating boutiques. Its application lets users find, follow, and shop the boutique stores; allows boutique stores to post and sell items to their social and mobile shoppers and get discovered by new customers; and enables shoppers to see the new products for sale from their favorite boutiques, discover new boutiques, and make purchases. Btiques, Inc. was formerly known as Postport, Inc. The company was incorporated in 2012 and is based in Fayetteville, Arkansas.