Connecticut Innovations Invests $12.6 Million in Early-Stage Companies in Q3 FY 2024

Deals leveraged $148.0 million in outside capital in the third quarter of the fiscal year

New Haven, Conn. – April 30, 2024 – Connecticut Innovations (CI), Connecticut’s strategic venture capital arm, today announced that it invested approximately $12.6 million in 24 companies and venture funds during the third quarter of its fiscal year, ending March 31, 2024.

CI invested $5.5 million in the consumer space, another $2.5 million in technology companies and the remaining $4.6 million in healthcare companies and venture funds. CI’s investments leveraged $148.0 million in outside capital.

“We are actively seeking opportunities in the venture debt space and finding opportunities in the marketplace,” said Kevin Crowley, senior managing director of investments. “As we move forward, we expect to increase our deployment in this area.”

“We had a very active quarter,” said Peter Longo, senior managing director of investments. “We continue to find strong investment prospects in Connecticut’s growing ecosystem.”

Throughout FY24, CI has had 130 angels invest $11.6 million in 38 qualified Connecticut businesses through the Angel Investor Tax Credit Program.

In FY24, CI has invested $38.5 million and leveraged $660.9 million year to date.

About Connecticut Innovations
Connecticut Innovations (CI) is the state’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. CI provides access to capital and its network of talent and partners to help companies grow. For more information, please visit