Connecticut Innovations Invests $9.9 Million in Early-Stage Technology Companies in First Quarter of FY 2020
Deals leveraged more than $149 million in outside capital in first quarter of the new fiscal year
Rocky Hill, Conn. – December 10, 2019 – 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 $9.9 million in 25 companies/projects during the first quarter of its 2020 fiscal year, ending September 30, 2019.
In the quarter, $5.7 million of investment was in biotechnology companies and $3.9 million in information technology companies, with remaining investment dollars distributed across companies in other industries. The investments leveraged an additional $149.2 million in outside capital.
“It was another active quarter for Connecticut Innovations as we continue to provide the financial support our state’s young companies require to advance their innovative ideas,” said David Wurzer, executive vice president and chief investment officer at Connecticut Innovations. “Our portfolio includes some very promising early-stage technology companies with great potential to contribute to Connecticut’s innovation ecosystem, and we are excited to follow their progress.”
Connecticut Innovations’ venture capital portfolio includes investments in approximately 175 companies from throughout the state.
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 www.ctinnovations.com.