JumpStart is jumping deeper into venture investing

JumpStart Inc., the economic development nonprofit, has raised $70 million to invest in new businesses, doubling the amount it has under management.

To emphasize its commitment to nurturing entrepreneurs, the organization has created a division, JumpStart Ventures, with its own dedicated staff and website, to find investment opportunities, primarily in Northeast Ohio.

Ray Leach, JumpStart’s CEO, describes the organization’s plan as “an evolution of JumpStart’s capital strategy.” Leach sees this venture capital effort as one way to help Northeast Ohio catch up to the rest of the state in investments into young businesses.

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Story excerpt provided by Crain’s Cleveland Business.

Written by Jay Miller.

Originally published March 16, 2022.