Deals leveraged nearly $112.6 million in outside capital in the second quarter of the fiscal year
New Haven, Conn. – March 23, 2022 – 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 $15.1 million across 47 transactions during the second quarter of its 2022 fiscal year, ending December 31, 2021.
In terms of investment breakdown, CI directed approximately $5.7 million toward companies in the technology sector and $4.8 million toward healthcare companies. The remaining funds were invested across other industries, including climate tech and consumer goods.
The investments leveraged an additional $112.6 million in outside capital. CI’s largest investments of the quarter went to Covr Financial Technologies, Tamarack Global, Halda Therapeutics, CytoVeris and Intellihealth.
Year-to-date for the second quarter, CI has invested $22M and has leveraged $860M in the first two quarters of the fiscal year.
“In the second quarter, CI saw a high volume of investment transactions,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “Our portfolio companies continue to grow and raise the capital they need to be successful.”
In addition, CI reported more than 100 angels invested $7.7 million across 33 qualified Connecticut businesses through the Angel Investor Tax Credit program.
About Connecticut Innovations
Connecticut Innovations (CI) is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. CI provides venture capital and strategic supprt 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 http://www.ctinnovations.com.