Future Fund

Our mission is to empower underrepresented founders building the next billion-dollar companies reimagining the future.

Program Thesis

The Future Fund is looking to invest $50M into venture-backable, tech-enabled startups that are built by underrepresented founders. We are looking to back high quality, diverse teams that are building billion-dollar businesses in the largest and growing markets. We are looking to back the most ambitious ideas that can provide global impact and scale rapidly.


+$1.36 Billion

Raised by Latina founders in the last decade

$250 Million

Raised by Black women founders in 2017

$1.9 Billion

Raised by women founders in 2017

$66 Billion

Raised by male founders in 2017


Only 8%

of venture capital funded startup founders are women

Only 1%

of venture capital funded startup founders are Black

Only 0.4%

of venture capital funded startup founders are Latina


Intuitive Understanding.

We believe the best founders have an authentic connection to the problem they’re solving end a deep understanding of the community they’re building for, so they’re suposed to win right from the start.

Focused + Formidable.

We look for founders we can’t hold back, founders who can’t imagine doing anything else. You’ll need a singular product, ruthless execution, resilience and the ability to do a lot with a little.

The Early Bird gets the Worm.

We typically lead or co-lead Seed or Pre-Seed rounds, with an average initial check size from $500,000 - $1 million.

Equity Matters.

Many of the companies we’ve backed have mixed-gender founding teams. Where that’s the case, we expect a fair founder equity split. We find the cap table is an indicator of team dynamics - and eventual success.


mental health + wellness


healthcare tech



construction tech


event name goes here

We invest up to $1.5 million per round, typically up to a maximum of $7 million in any one company. The fund includes strategic guidance, introductions to valuable partners and ongoing support.

Venture Portfolio


CI seeks companies led by CEOs whose resilience, creativity and resourcefulness will lead to outsized returns. While the fund will invest in early-stage companies of all types, diversity at the board and executive level is mandatory. Preference will be given to disruptive and high-performing early-stage companies that have high growth potential.

Our Team

Work shoulder-to-shoulder with people who pour all their energy into your success—and bring a wealth of business experience to the table.

Matthew McCooe
Chief Executive Officer
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Philip Siuta
Chief Operating Officer and Chief Financial Officer
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Pauline Murphy
Senior Vice President and Chief Information and Process Officer
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Lauren Carmody
Chief Marketing Officer
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Christopher Baisden
Chief Human Resources Officer
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Kevin Crowley
Senior Managing Director, Investments
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Peter Longo
Senior Managing Director, Investments
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Daniel Wagner
Senior Managing Director, Investments
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Douglas Roth
Managing Director, Investments
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Matthew Storeygard
Senior Managing Director, Investments and Bio Team Director
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Alison Malloy
Managing Director, Investments
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Ted Murphy
Senior Vice President, Venture Lending
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Jordan Lue
Analyst, Investments
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Matt Panicali
Associate, Investments
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Elizabeth Skrabl
Investment Operations Analyst/Paralegal
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Tamyra Davis
Senior Investment Specialist
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Lisa Day
Manager of Office and Facilities
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Emma Twohill
Marketing Coordinator
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Colin Tedeschi
Senior Vice President, Lending and Credit Administration
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Hil Scott
Controller, Accounting and Finance
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Drew D’Alelio
Senior Associate, Investments
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Konstantine Drakonakis
Managing Venture Partner
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Malik D. Okoro
Senior Associate, Investments
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Lisa Nicoletti
Senior Accountant
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Cynthia Petruzzello
Vice President Compliance & SSO
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Tracey Tribuzio
Accounting Manager
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Kimberly Wolfe
Director of Information Technology
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Jamie Rinaldi
Manager of Investment Accounting
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Bo Bradstreet
Talent Acquisition Director
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Matthew J. Archuleta
Senior Associate, Investments
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David Bruno
Director, Innovation Lab
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Renee Wasko
Associate, Investments
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Ryan Dings
Venture Partner
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Brian Dowd
Director, Investments
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Is the company willing to relocate or expand to Connecticut?(Required)
Max. file size: 50 MB.



What is the Proof-of-Concept Fund? Who is funding it?

The Proof-of-Concept Fund is a pilot program operated by Connecticut Innovations, based on legislation PA 18-178—sHB 5590, led by Senator John Fonfara. The program was created to provide a new source of potential funding for Connecticut companies in their early stages that have reached a point in their business concept or technology development where additional capital is needed to complete research, testing and/or other activities to demonstrate the validity and potential of the business. The fund is highly competitive, with  investments of $50–100K in 15 to 25 companies a year.

Is this funding an investment we would have to pay back, or a grant?

Proof-of-concept funding is an investment by Connecticut Innovations—not a grant. Investments will be in the form of a standard entrepreneur-friendly convertible note.

What size are these investments? How are the terms of repayment defined?

Amounts will range from $50,000 to $100,000 in the form of a convertible note, which will be either repaid or converted into equity when the next round of funding is completed. No personal guarantee is required. The program has a pay-it-forward mantra whereby we hope founders will return the capital so we can reinvest the returns in the two additional founders.

What types of companies qualify for proof-of-concept funding?

We are looking for Connecticut companies planning for substantial growth in fundraising, revenues and high-paying jobs. We are seeking founders needing outside investment to validate the growth potential of their core concept or technology.

While the program is open to all businesses, preference will be given to innovation-based businesses, including information technology, cleantech/greentech, advanced manufacturing and bioscience/biotechnology companies.

How does my company begin the process?

To begin the process, please submit requested information here. You will be contacted by Connecticut Innovations staff within one week. The form requests an investor deck and financials, as well as an optional business plan.

What should be included as part of the investor deck?

The investor presentation can be in various formats and should include references to the company’s leadership and team, company and technology/product, value proposition and anticipated outcomes of funding impact, target market size, go-to-market strategy, business model, project plan and associated budget.

How should I prepare my financials?

Financials should include the most up-to-date balance sheet, cash flow and income statements. Companies should also provide a forecast detailing sources and uses of funding.

Is a business plan required? What should it include?

Providing a business plan is optional. Business plans take many forms, but should at a minimum include an executive summary, value proposition and business structure, market strategy, details about the leadership team and the financial state of the company. This is an excellent tool every entrepreneur should create at some stage.

How long does the process take, from initial contact to when we learn if we are approved?

Once your materials have been submitted, you will have an initial response from a member of the CI team within one week. If we enter into due diligence, the investment process can take anywhere from 3.5 to 24 months (as is the case with almost all investment firms). The length of the investment process depends on the team’s relevant experience, market size, uniqueness of the product offering, the value-add of the proof-of-concept investment (i.e., will successful completion be sufficient to raise follow-on capital) and many other factors. CI’s investment team applies early stage due diligence to better understand the founder and the opportunity at a deeper level. The due diligence process also helps prepare the founder for the next round of funding.

Do you require a cash match from another funding source or sources?

No cash match is required, but it is preferred when possible.

What are the terms of the convertible note?

A sample of a promissory note can be found here. Please note this document is subject to change.


Still have questions? Feel free to reach out to Tamyra Davis.