Cincinnati Children's Blog

Cintrifuse Names Investors in its $40 Million Fund of Funds

Cintrifuse, the downtown-based business accelerator trying to help local startups by boosting availability of venture capital in Cincinnati, named its founding funders today.

After weeks of speculation about who delivered initial investments to its $40 million fund of funds, Cintrifuse announced the list of initial investments in Cintrifuse Early Stage Capital Fund I: Cincinnati Children’s, Procter & Gamble Co., Western & Southern Financial Group Inc., Duke Energy Corp. and the University of Cincinnati. Western Southern, Cincinnati Children’s and UC confirmed initial investments at $5 million each. P&G and Duke declined to reveal their amounts.

The money will be invested in up to 10 venture capital funds nationwide, with the goal of making those funds more active in the Tri-State area.

“We see it as an investment that has the potential for a number of benefits,” said Cincinnati Children’s spokesman Terry Loftus. “We’re hoping it could get the next big idea to the market place, which could benefit our patients and families.”

Cintrifuse hopes to raise up to $100 million over time. Macy’s Inc. and Kroger Co. are still considering potential contributions.

Read more from WCPO.com.

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