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The First Fifty Fund was formed to provide early stage equity and operational
assistance to qualifying businesses in Central Ohio. The fund was established
through a partnership between the Ohio Department of Development and the
Central Ohio Business Development Infrastructure that includes Science
and Technology Campus Corporation, The Business Technology Center and
Omeris.
The Business Technology Center co-manages the investment decisions for
the Fund. The BTC aggressively markets the Fund to the central Ohio technology
based business community and is actively seeking investment opportunities.
The BTC’s responsibility includes the identification, negotiation,
closing and managing the early stage investments of the Fund.
HIGHLIGHTS OF THE FIRST FIFTY FUND
Purpose
Provide pre-seed capital and professional management assistance to fuel
technology and market validation and the initial start-up phase of early-stage
technology-based business opportunities.
Partners
Business Technology Center, OMERIS, Scitech (Grant recipient and fund
manager)
Fund Performance
Third Frontier Action Fund Grant .......................................
$1.1 million
Invested to Date.....................................................................$702,000
Follow-On Investments in 9 Portfolio Companies................$5.6 million
Portfolio Companies by Industry
Advanced Materials: Excera, SensIrOx
Biosciences: Avantec, Bavoy, Bridgesite, Interventional Imaging, DiraMed
Information Technology: Armada Group, Innovate, Intelligent Platform
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