Connecticut Innovations Invests $9.4 Million
Deals leveraged $29 million in outside capital in second quarter
Rocky Hill, Conn. – March 19, 2018 – 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 through 43 investment transactions during the three months ending December 31, 2017.
The transactions leveraged an additional $29.4 million of investments in Connecticut early-stage companies. Of the $9.4 million, CI invested $3.6 million in bioscience technologies, $3.4 million in information technology companies, and $2.4 million in other Connecticut-based companies.
“CI continues to identify great investment opportunities in the state,” said David Wurzer, chief investment officer and executive vice president at Connecticut Innovations. “In the first two quarters of the fiscal year, we invested in 16 new Connecticut companies and innovative research projects, which is a strong indication of growing levels of activity in the innovative communities across the state.”
Connecticut Innovations’ venture capital portfolio includes investments in approximately 150 companies from 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.