Deals leveraged $74.9 million in outside capital in the third quarter of the fiscal year
NEW HAVEN, Conn., April 23, 2025 /PRNewswire-PRWeb/ -- Connecticut Innovations (CI), Connecticut's strategic venture capital arm, today announced that it invested approximately $7.4 million in 19 companies and venture funds during the third quarter of its fiscal year, ending March 31, 2025. CI's investments leveraged $74.9 million in outside capital and generated $4.9 million in proceeds during the quarter.
CI invested close to $5 million in the healthcare sector, and approximately $1.4 million in climate tech. The remaining $1 million was invested in consumer companies and venture funds.
"Healthcare continues to be one of CI's largest areas of investment," said Matt Storeygard, senior managing director of investments. "This quarter, we grew our healthcare portfolio with the addition of PursueCare, a tech-enabled, digital health startup offering evidence-based treatment, counseling, psychiatry and medication-assisted treatment through its innovative telehealth platform."
To date, CI has invested $34.8 million and leveraged $566.8 million in FY25.
"Despite fluctuations in the market, CI is still finding investment opportunities, growing Connecticut's innovation ecosystem and helping our current portfolio scale," said Peter Longo, senior managing director of investments. "Our team will continue to prioritize the growth of our companies as we navigate the current economic climate."
Throughout FY25, CI has had 134 angels invest $16 million in 33 qualified Connecticut businesses through the Angel Investor Tax Credit Program. Applications on CI's site for angel investors will reopen on Sunday, June 1, 2025, and new approvals will be made beginning on Tuesday, July 1, 2025.
About Connecticut Innovations:
Connecticut Innovations (CI) is Connecticut's strategic venture capital arm and is the leading source of financing and ongoing support for innovative, growing companies. By offering equity and debt investments, strategic guidance and introductions to valuable partners, we help promising businesses to thrive. For more information, please visit http://www.ctinnovations.com.
Media Contact
Lauren Carmody, Connecticut Innovations, 860.258.7829, [email protected], https://ctinnovations.com
SOURCE Connecticut Innovations
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