Venture capital fund targeting Mahoning Valley startups launches with $6 million

Story excerpt provided by Crain’s Cleveland Business.

Written by Jeremy Nobile.

Valley Growth Ventures, a micro-investment capital investment fund launched in 2016, has closed fundraising at $6 million and is actively seeking investment opportunities.

VGV , which is managed by Ernie Knight — who is president of the management consulting firm Knight & Associates and an adviser to Adsorption Research Inc., a testing and analysis laboratory based in Dublin, Ohio — focuses on growth capital for startup companies primarily in the software, energy, advanced materials and additive manufacturing industries.

Its funds comprise $3 million from 44 private investors, in Ohio and elsewhere, that was matched by $3 million from Ohio’s Third Frontier Pre-Seed/Seed Plus Fund Capitalization Program.

VGV was started as a partnership between the Youngstown Business Incubator, Mercy Health, Tech Belt Energy Innovation Center, Youngstown State University Research Foundation and the Mahoning Valley Economic Development Corp. The fund is the first to be supported by that level of collaboration in the Youngstown market.

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Originally published March 12, 2018.

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