Connecticut Innovations Invests $10.4 Million in Q3 2018
Deals leveraged $78 million in outside capital in third quarter
Rocky Hill, Conn. – June 15, 2018 – Connecticut Innovations (CI), Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced that it invested $10.4 million in 38 investment transactions during the three months ending March 31, 2018.
The investments leveraged an additional $78.3 million in outside capital. Of the $10.4 million, $7.7 million was invested in biotech companies and $2.7 million was invested in information technology companies in the state.
“This was another strong quarter for investment in Connecticut companies,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “We continue to find excellent opportunities for bioscience and technology companies, and our early-stage involvement in these companies provides them with an opportunity to grow.”
Connecticut Innovations’ venture capital portfolio includes investments in approximately 150 companies from throughout the state.
About Connecticut Innovations
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize growth potential, CI provides venture capital and strategic support for early-stage technology companies; financial support for innovation and collaboration; and connections to its well-established network of partners and professionals. For more information, visit www.ctinnovations.com.