Connecticut Innovations Invests $8.1 Million in Early Stage Companies in FY 2020 Q2
Deals leveraged nearly $55 million in outside capital in second quarter of the fiscal year
Rocky Hill, Conn. – February 18, 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 investments during the second quarter of its 2020 fiscal year totaled $8.1 million across 27 transactions.
In the quarter, CI directed $4.7 million toward biotechnology companies and $2.5 million toward information technology companies, with the remaining funds distributed across companies spanning a range of industries. The investments leveraged an additional $54.8 million in outside capital.
“In our second quarter, CI continued to provide the state’s early stage companies with the capital and resources needed to accelerate business plans and commercialize innovations,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “We are excited to follow the progress and development of these promising and innovative young companies.”
Connecticut Innovations’ venture capital portfolio includes investments in more than 150 companies throughout the state.
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, visit www.ctinnovations.com.