The Cintrifuse Early Stage Capital Fund I, LLC (Cintrifuse Syndicate Fund) announced its most recent investment in Greycroft Partners’ $200 million fund, Greycroft Partners IV, L.P. Greycroft is one of the nation’s leading early stage venture funds and this investment will strengthen the already close relationship between Greycroft Partners, Cintrifuse and the Cincinnati business community.
Since inception, Greycroft Partners’ funds have consistently performed in the top quartile of funds with similar vintages – $2.6 billion in exits over the last 24 months. Unique among other investment firms, Greycroft was also an early pioneer for ‘corporate innovation days’ helping large companies more easily access innovation.
The firm typically invests in startups in business verticals such as: the consumer Internet, eCommerce, enterprise software, cloud computing, financial technology and advertising technology. Some of Greycroft’s most notable investments are the Huffington Post, TheRealReal and Buddy Media. Their expertise, focus and demonstrated success within these verticals will be beneficial for #StartupCincy as well as its corporate community.
-Dana Settle, Co-Founder of Greycroft Partners
“Greycroft has been extremely active with our corporations and startups. We look forward to seeing more engagement from Greycroft’s General Partners as we develop and grow our relationship with them,” said Tim Schigel, Cintrifuse Fund Manager, “They have a strong link to Cintrifuse and the region and our investment will only strengthen the ties between Greater Cincinnati and Greycroft.”
Cintrifuse began its relationship with the firm by helping facilitate Everything But The House’s (EBTH) $13 million Series A investment in November of 2014, the second largest funding round in Cincinnati’s history. Since Greycroft’s investment in EBTH, co-lead by Spark Capital, the firm regularly visits the Greater Cincinnati region. Most recently, Bo Peabody, Greycroft Partners Entrepreneur-In-Residence, participated in a fireside chat with Andy Nielsen, EBTH CEO, at the Cintrifuse Fund’s annual meeting in October 2015.
Because of Greycroft Partners’ reputation and track record, the firm usually does not take investments from new Limited Partners. Cintrifuse was one of a few new institutional investors in this fund, the remaining investment coming from Limited Partners of their three previous funds, demonstrating the firm’s commitment to the region.
“We took on Cintrifuse as a new investor because of Cincinnati’s thriving ecosystem,” said Dana Settle, Co-Founder and Partner at Greycroft, “EBTH was a very good find and we want to continue to source deals from the Greater Cincinnati region. We also look forward to deepening and expanding our connections and relationships with Cincinnati’s large corporations.”
Cintrifuse’s ability to attract top-quartile funds like Greycroft to work with Cincinnati’s ecosystem demonstrates the effectiveness of the Syndicate Fund’s model and signals an increasing interest from “coastal investors” in the Greater Cincinnati region.