Connecticut Innovations (CI), the state’s venture capital agency, said Thursday it invested $45.8 million in 67 companies and venture funds in the fiscal year that ended June 30.
Connecticut Innovations (CI), the state’s venture capital agency, said Thursday it invested $45.8 million in 67 companies and venture funds in the fiscal year that ended June 30.
The total was divided among climate tech companies ($10 million), healthcare companies ($16 million), technology companies ($8 million), consumer-related companies ($6.5 million) and venture funds ($5.5 million), CI said. The individual amounts total $46 million due to rounding.
CI’s investments also helped attract $653 million in outside capital into its portfolio companies, it said.
The fiscal year generated $43.2 million in cash proceeds, which CI said will be invested in more early-stage companies.
“CI closed out the year on a high note, with several successful exits in the fourth quarter,” said Peter Longo, senior managing director of investments at CI. “These wins underscore the strength of our portfolio and the momentum we’re carrying into the year ahead.”
During the past fiscal year, CI sought to strengthen its ability to provide strategic support for its portfolio companies beyond just capital, holding its second annual Tour de Connecticut and its inaugural Talent Fair.
The two events were intended to spotlight CI’s portfolio companies, while engaging with new audiences in the state’s innovation ecosystem and creating connections with emerging talent and communities statewide.
“This year, we invested heavily into talent acquisition for our portfolio, based on the needs of our portfolio companies,” CI CEO Matt McCooe said. “In addition to supporting 127 direct hires in our portfolio this year, we also launched our first CI Talent Fair, which provided 300 young professionals with an opportunity to network with leading startups in Connecticut.”
In addition to its investments, CI said 157 angels invested $19 million in 43 qualified businesses through the Angel Investor Tax Credit Program during fiscal 2025.
The program enables investors to receive a tax credit by investing in a qualified Connecticut business
