Deals leveraged $24 million in outside capital in first quarter
Rocky Hill, Conn. – November 10, 2016 – Connecticut Innovations (CI), the leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced that it invested $7.1 million in 24 investment transactions during the three months ending Sept. 30, 2016.
The transactions leveraged an additional $24.1 million of investments in Connecticut early-stage companies. Of the $7.1 million, CI invested $3 million in bioscience technologies, $2.1 million in information technology companies, and $2 million in clean technology.
“CI continues to assist and fund Connecticut’s high-tech companies,” said David Wurzer, chief investment officer and executive vice president at Connecticut Innovations. “As 2017 unfolds, we look forward to increasing investment activity across all technology sectors and continuing to focus on bioscience and health-care information technology as an area of investment through the $200 million Connecticut Bioscience Innovation Fund.”
CI investments support promising early-stage companies throughout the state. CI’s current portfolio company investments have helped create nearly 1,300 jobs in innovative Connecticut companies.
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, please visit www.ctinnovations.com.