[ad_1]
Connecticut’s know-how funding company invested $13.5 million in 34 transactions throughout the latest quarter of its fiscal yr.
Well being care firms have been the biggest recipients of investments from New Haven-based Connecticut Improvements throughout the company’s third quarter, which ended March 31. Corporations in that sector obtained $4.eight million in investments from Connecticut Improvements, in response to company officers.
One other $4.1 million was invested in Connecticut firms within the know-how sector. The remaining $4.6 million was invested in firms from such sectors as climate-tech, shopper and enterprise funds.
CI had fewer investments within the third quarter than within the earlier three-month interval, which concluded Dec. 31, 2021. Throughout the fiscal second quarter of 2022, the company invested $15.1 million throughout 47 transactions.
CI’s fiscal second quarter investments included roughly $5.7 million directed towards firms within the know-how sector. One other $4.eight million went towards healthcare firms, in response to company officers.
The remaining funds have been invested throughout different industries, together with local weather tech and shopper items.
Second quarter investments from CI leveraged an extra $112.6 million in exterior capital. Connecticut Improvements’ third quarter investments helped leverage an extra $96.7 million in exterior capital.
Matthew Storeygard, senior managing director of investments for the company stated the enterprise capital market is “seeing a rightsizing … which is able to have an effect on the businesses in our portfolio over the subsequent a number of years.”
“Nonetheless, we proceed to see super progress with our portfolio firms,” Storeygard stated. “We look ahead to serving to them develop as we close to the top of the fiscal yr.”
Peter Longo, senior managing director of investments at CI, stated investments within the fiscal third quarter included practically 10 new firms, “whereas persevering with to do follow-on investments for rising firms within the state,”
luther.turmelle@hearstmediact.com
[ad_2]
Supply hyperlink