CINCINNATI - Cincinnati-based CincyTech has another $10.9 million to invest in local, technology-based startup companies.
CincyTech has closed on CincyTech Fund III, LLC, its largest fund to date. It combines $5 million from the Ohio Third Frontier and $5.9 million that CincyTech raised from Southwest Ohio individuals and organizations.
“It gives us the fuel that we need to continue to invest in companies that will create jobs and wealth,” CincyTech President Bob Coy said of the new fund. “It enables us to keep our momentum going.”
Eight local institutions and 51 individuals have committed to invest in the fund, according to CincyTech. Those include: Castellini Foundation, Cincinnati Children’s Hospital Medical Center, The Christ Hospital, The Greater Cincinnati Foundation, and the Health Foundation of Greater Cincinnati
So far, CincyTech has invested $15.3 million in 43 companies. Those companies have created 390 jobs and have gotten $228.2 in additional investment.
CincyTech is a seed stage investment fund that aims to stimulate the growth of local IT and bioscience companies.
Copyright 2013 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Activists describe what it's like to engage the Ivory Empire in a public relations battle.
Greenpeace protesters 'work like SWAT teams,' said a former co-founder of the global environmental group.
Palm oil made the slope slippery for Procter & Gamble this week. But exactly why is Greenpeace perturbed by the consumer product…
After Belcan Corp. founder Ralph Anderson died in 2010, it was up to his daughter to keep it running. She's done that – and grown…
Kroger reported a better-than-expected profit for its fourth quarter Thursday as the nation's largest supermarket operator saw a key…
An auto parts manufacturer says it will build a $50 million plant in southwest Ohio that is expected to result in 150 jobs.
Casino owners promised that Horseshoe Casino Cincinnati would strive to work with companies owned by women and minorities. Local business…
E.W. Scripps Co. exceeded analyst expectations with a $7.9 million profit in the fourth quarter of 2013.
What does it mean to be Cincinnati's hometown casino? The General Manager of Horseshoe Casino Cincinnati explains as the downtown…
Sunny Delight Beverages Co. has signed a licensing deal to enable a carbonated version of the fruit drink by this summer.