Connecticut Innovations Invests $9.4 Million in Early-Stage Companies in FY 2021 Q3
Deals leveraged nearly $124 million in outside capital in the third quarter of the fiscal year
New Haven, Conn. – May 25, 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 $9.4 million across 36 transactions during the third quarter of its 2021 fiscal year, ending March 31, 2021.
In terms of investment breakdown, CI invested approximately $6.5 million in bioscience and healthcare information technology companies and $1.8 million in IT companies. The additional funds were allocated to companies spanning a variety of industries.
The investments leveraged an additional $124 million in outside capital. CI’s largest investments of the quarter went to Enko Chem, Inbox Health, Lumeda and ThayerMahan.
“CI had a great quarter, investing in some of the most promising technology companies in the state,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “We continue to see investment opportunities across all technology sectors and look forward to accelerating momentum through the end of the fiscal year.”
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.