CINCINNATI, OH (FOX19) -
Cincinnati Children's Hospital Medical Center, Duke Energy, The Procter & Gamble Co., the University of Cincinnati and Western & Southern Life Insurance Co., are the first investors in the Cintrifuse Early Stage Capital Fund I, LLC, a venture capital fund of funds, which has closed $40 million so far.
The Cintrifuse Early Stage Capital Fund I will invest in regional and national early-stage venture capital funds. The Cintrifuse fund will target venture firms with focus areas that align with its strategic funding partners' interests in life sciences, consumer goods and services, technology and energy.
The fund of funds is managed by Tim Schigel, founder and chairman of ShareThis, the world's largest sharing platform on the Web. Schigel was director of the Blue Chip Venture Company from 1998-2007.
The Cintrifuse fund is a for-profit fund operated by Cintrifuse Fund Management, LLC, a wholly-owned subsidiary of Cintrifuse.
Cintrifuse is a non-profit organization launched in July 2012 to enable a sustainable innovation ecosystem that allows Cincinnati to successfully compete globally for innovation-driven startup businesses and jobs.
Cintrifuse is currently located in the core of downtown Cincinnati. This collaborative hub offers a web of supportive services designed specifically to help high-growth startups. It includes but is not limited to other innovative startups, programs, mentors and business consultants (e.g., coding, developing, financial, marketing, design, branding, strategic communications, legal and patent experts). Current startup members in the space include 3DLT, Airway Therapeutics, Atlas10, Globili, Kineetoz, Lisnr, One More Pallet, Petbrosia, Physicians Referral Network, Pingage, Student Source and TappSpace Technology.
By fall 2014, Cintrifuse expects to open a 38,000-square-foot urban campus and occupy space in Cincinnati's historic Over-the-Rhine community.
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