The state’s quasi-public venture arm Connecticut Innovations said it invested $12.2 million in 31 companies during the final three months of 2016, deal flow that was down from the year-ago period.
CI said its second quarter, which ended Dec. 31, also leveraged $58.4 million in additional capital from outside investors who joined in on the deals.
CI’s equity investments in the quarter totaled $6.6 million in bioscience companies and $5.6 million in information technology firms.
In the same year-ago period, CI invested $17.6 million in 54 companies.
During the most recent quarter, CI’s investments included a $1 million deal with the inaugural VentureClash winner, Dream Payments, a Canadian mobile-payments vendor that plans to open its first U.S. office in Stamford sometime in the first quarter of this year.
Other key deals CI closed include a $250,000 investment with Biohaven Pharmaceuticals, which leveraged an additional $39.8 million; and a $1 million investment with CaroGen, which has been funded through CI’s pre-seed fund and the Connecticut Bioscience Innovation Fund.
