Northeast Ohio investment firm raises $38M to fund startup companies

North Coast Ventures (NCV), the Cleveland-based investment fund that has raised over $60 million and invested in 57 regional companies since its founding, has raised and begun investing another $38 million in young businesses.

NCV is an early-stage fund that invests in young companies that are developing business-to-business software applications that have high growth potential, focusing on Northeast Ohio.

The investment group attracted capital from more than 200 individual investors, most from Northeast Ohio. These investments have created two funds that NCV managing director Todd Federman expects will allow the group to help nurture at least 15 companies per fund. In addition to these two new funds, NCV manages investments for four earlier funds.

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Story excerpt provided by Crain’s Cleveland Business.

Written by Jay Miller.

Originally published February 6, 2022.