Techstars brings world-class company builder to #StartupCincy
Cintrifuse announced today the sixth investment from its $57 million fund will be in Techstars Ventures – a $150 million Seed and Series A fund that invests primarily in companies emerging from the Techstars ecosystem. Headquartered in Boulder, CO, Techstars has an aptitude for successfully launching high-growth companies through its network of accelerators.
Screening over ten thousand companies a year, Techstars operates one of the nation’s most competitive and most successful startup accelerators. Companies within the Techstars network have raised over $5 billion in venture capital and employ thousands of people. Some notable investments Techstars Ventures has made in the past include Uber, Digital Ocean, SendGrid, and GroupMe. This new fund will be Techstars Ventures’ third venture capital fund.
Techstars is also demonstrating progress in the area of corporate innovation through partnerships with organizations such as the Walt Disney Company (DIS), Sprint (S), and Ford Motor Company (F) advancing product development and technology efforts.
“Techstars has an impressive track record as a company builder – consistently investing in successful, innovative companies,” said Tim Schigel, Cintrifuse fund manager. “As pioneers of corporate accelerators, they bring a unique capability which is directly related to the mission of Cintrifuse. We look forward to a partnership that brings more innovation and in turn more success to #StartupCincy.”
“When we look towards expanding our reach, we look for the most favorable startup ecosystems in the country. Ecosystems with the right talent, the right mentors, and the right mentality,” said David Cohen, co-founder of Techstars and Managing Partner of Techstars Ventures. “Cincinnati has large, high-caliber corporations and a thriving startup community so partnering with Cintrifuse will just continue to bolster the region’s flourishing startup ecosystem. I’m already a big fan of #StartupCincy!”
The breadth of startup experience represented by Techstars is unique to the startup world. Cincinnati’s high concentration of Fortune 1000 companies and Techstars’ regional engagement plan will have wide-reaching benefits to all the startups and corporations who call Cincinnati home.
“The influence of the Techstars network in Cincinnati has the potential to create a lot of amazing activity.” said Tim Schigel, “With their regional engagement plan we look forward to adding more positive momentum to Cincinnati’s corporate and startup communities.”
Cintrifuse facilitates the building of high-growth companies in Cincinnati, OH. The organization fosters and maintains a network of funders, educators and talent in order to support startup companies throughout their life cycle. Cintrifuse puts the entrepreneur fist and dedicates itself to the success of its members.
Unique to other startup advocacy groups, Cintrifuse also operates a for-profit fund, the fund of funds, that strictly invests in other venture funds. Investors in the fund of funds represent top-tier global corporations like Procter & Gamble, Kroger and Western & Southern. With Cintrifuse, large corporations get access to innovation, VCs increase their deal flow and entrepreneurs thrive in a fertile startup ecosystem.
Cintrifuse will soon relocate to revitalized co-working space in the Over-The-Rhine neighborhood of Cincinnati.
About the Cintrifuse Fund of Funds
The Cintrifuse Early Stage Capital Fund I, LLC, is a for profit venture capital fund of funds. The fund focuses on regional and national early-stage venture capital funds with an emphasis on technology, life sciences, consumer goods/services and energy. The Cintrifuse fund of funds is operated by Cintrifuse Fund Management, LLC, a wholly owned subsidiary of Cintrifuse, a not-for-profit corporation.
The Cintrifuse Fund’s goals are to generate strong financial returns for investors and to meaningfully increase the amount of venture capital activity in the region. The Cintrifuse Early Stage Capital Fund I has closed $57 million to date making it one of the largest privately funded first-time regional fund of funds in the country.
About Techstars Ventures
Techstars Ventures (formerly Bullet Time Ventures) is the venture capital arm of Techstars. They have $265 million under management and are currently investing out of their third fund totaling $150 million which is focused on Seed and Series A investments. They primarily co-invest alongside venture capital and angel communities in Techstars accelerator program graduates, new companies started by Techstars alumni, and companies formed by Techstars mentors.
The massive Techstars interconnected network of over 3,000 successful entrepreneurs, mentors, investors, and corporate partners help the most promising startups do more faster. With 18 programs worldwide, our mentorship-driven accelerators fund the best companies in the most entrepreneurial communities. Since 2006, 80% of the 500+ companies from over 45 Techstars programs have received funding, representing approximately $2.8 billion in market capitalization. For more information, visit www.techstars.com.