CincyTech to start new fund with $10M loan from state

Story excerpt provided by Cincinnati Enquirer.

CincyTech, the venture development organization and seed stage investor, Thursday received a $10 million dollar loan from Ohio Third Frontier to help it create CincyTech Fund IV LLC.  The new fund will enable Over-the-Rhine based CincyTech to continue its mission of investing in high potential life science and technology- based startup companies in Southwest Ohio.

Officials at CincyTech said they have raised $20 million in local matching money, a requirement of the loan, from Southwest Ohio institutions, foundations and individuals, bringing the total of CincyTech Fund IV LLC to $30 million. Organizations that have committed to invest in Fund IV include the Greater Cincinnati Foundation, Castellini Management Co. and Interact For Health, in addition to more than 70 private investors.

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Originally published December 17, 2015.