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 This material may not be published, broadcast, rewritten, or redistributed.
Investors watch insider selling trends for signs that company executives think their stock price has peaked. They had a lot of transactions…
Tri-State shoppers are responding positively a day after a national coalition of retailers agreed to a customer bill of rights explicitly…
Cincinnati-based Bacterial Robotics wins National Science Foundation grant to develop tiny robots designed to eradicate skull-based tumors.
Century Mechanical Solutions made its mark by anticipating what businesses needed when it came to air conditioning and cold storage.
Smart IT Staffing hired LaVerdad Marketing to help grow the company's local profile. And in the process, LaVerdad expects to grow, too.
Horseshoe Cincinnati reported its lowest monthly revenue in November since opening last March.
Co-founder and CEO Konrad Billetz says it's about time wearers of prescription glasses were able to use their frames as a…
Sysco is buying the food distributor US Foods for about $3.5 billion in cash and stock.
Embattled Cincinnati/Northern Kentucky Airport CEO Candace McGraw’s attorney said Kenton County Airport Board members need to…
A document specifically details talking points on how some CVG board members planned to remove the CEO from office, including what they would…