Connecticut Innovations Invests $7.2 Million in Early-Stage Companies in FY 2021 Q2
Deals leveraged nearly $156 million in outside capital in the second quarter of the fiscal year
New Haven, Conn. – March 1, 2021 – 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 $7.2 million across 26 transactions during the second quarter of its 2021 fiscal year, ending December 31, 2020.
In terms of investment breakdown, CI directed approximately $4.3 million toward companies in the bioscience and healthcare information technology (IT) sector and $2.4 million toward IT companies. The remaining funds were distributed to companies spanning a range of industries.
The investments leveraged an additional $156 million in outside capital. CI’s largest investments of the quarter went to Artizan Biosciences, DiA Imaging Analysis, IsoPlexis and Payveris.
“With more than two dozen transactions secured, CI enjoyed a robust second quarter as we continued to invest in and support Connecticut’s early-stage companies,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “During this time of enhanced and unique challenges, we are heartened by the perseverance of our portfolio companies and enthusiastic about their prospects.”
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 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 http://www.ctinnovations.com.