CT Innovations sharpens healthcare focus in 3Q investments
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Peter Longo, Connecticut Innovations senior managing director of investments
Connecticut Innovations, the state’s venture capital arm, has announced it invested approximately $7.4 million in 19 companies and venture funds during the third quarter of its fiscal year.
CI says its investments leveraged $74.9 million in outside capital and generated $4.9 million in proceeds during the quarter.
The agency invested almost $5 million in the healthcare sector, and approximately $1.4 million in climate tech. The remaining $1 million was invested in consumer companies and venture funds.
Healthcare investments included the addition of PursueCare to CI’s portfolio, a Middletown-based digital health startup that offers substance-use care including counseling, psychiatry and medication-assisted treatment through a telehealth platform.
“Despite fluctuations in the market, CI is still finding investment opportunities, growing Connecticut’s innovation ecosystem and helping our current portfolio scale,” said Peter Longo, senior managing director of investments. “Our team will continue to prioritize the growth of our companies as we navigate the current economic climate.”
To date, CI has invested $34.8 million and leveraged $566.8 million in fiscal 2025.
The agency also detailed its role in leveraging angel investment, saying it has had 134 angels invest $16 million in 33 Connecticut businesses through the Angel Investor Tax Credit Program during the current fiscal year.
CI says that applications for angel investors will reopen on Sunday, June 1, and new approvals will be made beginning on Tuesday, July 1.
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