Cintrifuse Syndicate Fund Invests in Crosscut Ventures


[pullquote]…impressive ability to invest in early-stage consumer ideas and build those into market leaders.

Tim Schigel, Cintrifuse Fund Manager[/pullquote]

The Cintrifuse Early Stage Capital Fund I, LLC announced its investment in the $75 million CrossCut Ventures Fund 3. This investment promises to bring the knowledge and expertise of proven company builders to #StartupCincy. Given CrossCut’s historical performance and partner-level expertise in building consumer-focused technologies, Cintrifuse actively led CrossCut Fund 3’s first institutional-level investment in order to bring their knowledge to the region.

CrossCut Ventures is a venture capital firm based in Los Angeles, CA with a focus on investments in ecommerce, consumer web, enterprise, and video games. Started in 2008 by Rick Smith, Brian Garrett and Brett Brewer, the team consists of experienced venture investors and startup founders with past successes that include MySpace. CrossCut Ventures’ funds have performed among top decile of funds in the same vintage. Previous investments include Docstoc, Super Evil Megacorp, BlackTux, DataScience, Pulpo, Lettuce Apps and JustFab.

“Rick Smith and the entire CrossCut Ventures team have an impressive ability to invest in early-stage consumer ideas and build those ideas into market leaders. They have proven success as disciplined and, at times, independent investors,” said Tim Schigel, Cintrifuse Fund manager. “We look forward to engaging and connecting our startup community with CrossCut’s Managing Directors.”

Cincinnati’s strong expertise in consumer technology and consumer behavior makes it an attractive region for future CrossCut investment. The strong overlap in vertical markets will undoubtedly have a positive impact on Cincinnati’s regional economy.

[pullquote]Cincinnati is one of the most attractive ecosystems for us to invest in.

Rick Smith, CrossCut Ventures Managing Partner and Co-Founder[/pullquote]

“Strategically, Cincinnati is the one of the most attractive ecosystems for us to invest in outside of L.A. There are striking similarities between Cincinnati’s and L.A.’s startup communities. As we expand our investment geography, the high concentration of companies involved in consumer knowledge and consumer science provides a strong vertical overlap with our portfolio companies. This makes Cincinnati an attractive opportunity for us,” said Rick Smith, Managing Partner and Co-Founder of CrossCut Ventures, “The region’s corporations combined with quality organizations like The Brandery and Cintrifuse make Cincinnati a smart investment for VCs.”

Initially focused on investment in the Southern California startup community, CrossCut has begun to look nationally for new innovative ecosystems. CrossCut has already been involved with #StartupCincy through its participation in Brandery Demo Days and Cintrifuse Immersion Days. CrossCut’s repeated engagement in Cincinnati will continue to grow the region’s thriving startup ecosystem.

About Cintrifuse

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 that strictly invests in other venture funds (a fund of funds). Investors the fund 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

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 is operated by Cintrifuse Fund Management, LLC, a wholly owned subsidiary of Cintrifuse, a not-for-profit corporation.

The goals of The Cintrifuse Fund are to generate strong financial returns for investors and to meaningfully increase the amount of venture capital activity in the Greater Cincinnati 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 CrossCut Ventures

CrossCut is the company-building capital of LA and a catalyst for innovation across the SoCal tech ecosystem.

CrossCut was founded in 2008 when the SoCal ecosystem start to emerge – successful entrepreneurs, innovative ideas, but without much professionally-managed early stage capital available to support it. They were the first seed-stage fund to emerge and have been one of the most active.

The fund focuses on investments in consumer-based technologies such as gaming and ecommerce.

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