CI investments leverage $58.4 million in outside capital; CI closes investment in top winner of VentureClash 2016
Rocky Hill, Conn. – February 2, 2017 – Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced that it invested $12.2 million in equity investments in 31 companies and scientific projects during the three months ending December 31, 2016.
The investments leveraged an additional $58.4 million in capital to further support the growth of these companies. Of the $12.2 million, CI invested $6.6 million in bioscience and $5.6 million in information technology.
“We were pleased to be able to fuel the growth of more than 30 companies in bioscience and information technology throughout the quarter,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “This quarter, we closed a deal with the inaugural VentureClash winner, Dream Payments.”
The second quarter of the fiscal year also included a number of key deals. CI closed:
A $1 million investment with the inaugural winner of VentureClash 2016, Dream Payments;
A $250,000 investment with Biohaven Pharmaceuticals, which leveraged an additional $39.8 million; and
A $1 million investment with CaroGen, a company that has been funded through CI’s pre-seed fund and the Connecticut Bioscience Innovation Fund.
About Connecticut Innovations
Connecticut Innovations (CI) is the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. To maximize company 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, please visit www.ctinnovations.com.