Deals leveraged $148.0 million in
outside capital in the third quarter of the fiscal year
NEW
HAVEN, Conn., May 1, 2024
/PRNewswire-PRWeb/ -- Connecticut Innovations (CI), Connecticut's strategic venture capital arm,
today announced that it invested approximately $12.6 million in 24 companies and venture funds
during the third quarter of its fiscal year, ending March 31, 2024.
CI invested $5.5 million in the
consumer space, another $2.5 million
in technology companies and the remaining $4.6 million in healthcare companies and venture
funds. CI's investments leveraged $148.0
million in outside capital.
"We are actively seeking opportunities in the venture debt space
and finding opportunities in the marketplace," said Kevin Crowley, senior managing director of
investments. "As we move forward, we expect to increase our
deployment in this area."
"We had a very active quarter," said Peter Longo, senior managing director of
investments. "We continue to find strong investment prospects in
Connecticut's growing
ecosystem."
Throughout FY24, CI has had 130 angels invest $11.6 million in 38 qualified Connecticut businesses through the Angel
Investor Tax Credit Program.
In FY24, CI has invested $38.5
million and leveraged $660.9
million year to date.
About Connecticut Innovations
Connecticut Innovations (CI) is the state's strategic venture
capital arm and the leading source of financing and ongoing support
for Connecticut's innovative,
growing companies. CI provides access to capital and its network of
talent and partners to help companies grow. For more information,
please visit http://www.ctinnovations.com.
Media Contact
Lauren Carmody, Connecticut
Innovations, 860.258.7829, Lauren.Carmody@ctinnovations.com,
https://ctinnovations.com
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SOURCE Connecticut Innovations