Connecticut Innovations Invests $7.8 Million in Early-Stage Companies in FY 2021 Q1
Deals leveraged more than $170 million in outside capital in first quarter of the new fiscal year
New Haven, Conn. – December 2, 2020 – 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 $7.8 million across 19 transactions during the first quarter of its 2021 fiscal year, ending September 30, 2020.
In terms of investment breakdown, CI directed $5.6 million toward companies in the bioscience and healthcare sector and $1.5 million toward information technology companies. The remaining funds were invested in companies spanning a range of industries.
The investments leveraged an additional $170.4 million in outside capital. CI’s largest investments of the quarter went to Diameter Health, Azitra, Sema4 and ReNetX Bio.
“Our investment team had another active quarter as we continued to incubate and propel the growth of many of Connecticut’s promising startups and young companies,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “We are eager to monitor and support the progress of these companies as they continue to grow and produce employment for our state. While the pandemic is affecting companies of all shapes and sizes, we continue to find tremendous opportunities to invest in Connecticut technology startups during this time.”
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.