Connecticut Innovations (CI), the state’s venture capital investment arm, announced that investment transactions during the third quarter of its 2020 fiscal year totaled $14.3 million across 39 transactions.
A total of 33 companies received funding from CI during the most recent quarter. Those companies employ a total of 2,221 workers, CI reported.
That represents a 76% increase over the $8.1 million that CI committed in investment capital during the second quarter of the fiscal year, which concluded January 31.
During the quarter ended April 30, $6.3 million in CI investment went to biotechnology companies, and $8 million went to information technology companies. The investments leveraged an additional $134.3 million in outside capital, CI officials said.
[Read more: COVID-free, CT Innovations CEO says full steam ahead on startup pandemic response plan]
“With another active investment quarter, Connecticut Innovations continues to support the growth of many early-stage companies and entrepreneurial activity across the state,” said David Wurzer, executive vice president and chief investment officer for the New Haven-headquartered CI. “During this difficult time, we are more committed than ever to provide the support, resources and partnership these companies need to prosper.”
Connecticut Innovations’ venture capital portfolio includes investments in more than 150 companies throughout the state. The current value of CI’s total assets under management is $203.7 million, the organization said.
