Portfolio activity generates $9.4 million in proceeds during the quarter
New Haven, Conn. – April 22, 2026 – Connecticut Innovations (CI), Connecticut’s strategic venture capital arm, today announced that it invested approximately $6.0 million in 15 companies and venture funds during the third quarter of its fiscal year. In the quarter ending March 31, 2026, CI’s investments leveraged an additional $295.3 million in outside capital.
CI invested approximately $3.0 million in healthcare companies over the quarter and another $2.5 million in the technology sector. The remaining investments were in consumer companies and venture funds.
“This quarter marked a major milestone for our portfolio with Veradermics’ standout initial public offering,” said Kevin Crowley, senior managing director of investments. “The company raised $256 million in its IPO, with shares surging more than 122 percent in its trading debut. This outcome reflects Connecticut’s ability to support and grow successful companies from early innovation through public markets.”
“While this was a lighter deployment quarter, it is consistent with our disciplined approach to capital allocation,” said Peter Longo, senior managing director of investments. “We remain highly selective, prioritizing quality over pace and leaning in when we see truly differentiated opportunities.”
To date, CI has invested $33.5 million, leveraged $638.2 million in outside capital, and generated $57.7 million in proceeds in FY26.
About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies. By offering equity and debt investments, strategic guidance and introductions to valuable partners, CI helps promising businesses thrive. For more information, visit http://www.ctinnovations.com.