A quarterly update on VGV portfolio companies, partners, and industry trends.
Portfolio Company Highlights
S4 Medical Kicking-Off Clinical Studies
A congratulation is in order for VGV portfolio company, S4 Medical. Recently, S4 Medical announced its first patient to be enrolled and treated in the Easy AF IDE Study at The Ohio State University Ross Heart Medical Center.
S4 is focused on developing solutions for safer and more effective catheter ablation treatment for atrial fibrillation. The clinical resolution is a catheter-based device designed to displace the esophagus away from the source of ablation energy during ablation of AF and to minimize the risk of esophageal injury. It is not yet approved for commercial use.
Follow S4 Medical on LinkedIn for more company updates
Virtual Avatars, Home Safety Take Top Prizes at YBI Shark Tank Event
The Youngstown Business Incubator held its second Shark Tank event, their biggest fundraiser of the year. They had businesses and entrepreneurs pitch their ideas to a live audience of more than 500 people in order to gain exposure.
This year's winners are Devyn Bellamy with GERAS Home Solutions for “audience choice” and Jame van Doren with Neverending for “sharks’ choice.”
YSU Exceeds Campaign Goals by $26 million
Youngstown State University's largest fundraising campaign in the school's history has exceeded its goal of $100 million — totaling $126,187,126! During the quarterly Board of Trustees meeting Paul McFadden, the YSU Foundation’s president, said the university soon plans to release several TV commercials detailing how the funds will impact YSU.
Is Sequoia's Fund Restructuring Really a Game-Changer for VC?
"The VC industry appeared to reach something of a watershed moment when Sequoia fundamentally restructured its vast portfolio into a single master fund.
With the announcement, Sequoia declared that as far as its business is concerned, the venture industry's standard 10-year fund cycle is "obsolete." It's an innovative move for sure, and one that is perhaps overdue. But while it may help solve some problems, it could also be creating new ones."
Knowing when it’s time to scale your business can be challenging. Here are three signs to look out for that can help you decide if you’re ready to partner with a micro venture firm.
As a $6 million micro venture capital investment fund, Valley Growth Ventures has partnered with exceptional high-tech startups to increase their financial footprint and place them on the path to greater success. This is due in large part to our strategic approach, which leverages the knowledge and expertise of our skilled team and thorough due diligence process to attract exceptional ideas and talent.
So with this type of significant capital available in Ohio, how will you know if the time is right for your startup to seek out funding?
#1: You have a scalable idea with high earning potential
Are you in a high-growth industry with a unique idea? If so, consider seeking out an investment partner to help your idea turn into a business that can create value. Companies that have a strong management team, are working in the beta product through market entry stages, and have a minimum $500 million market size fall within our ideal criteria for investment.
As an example of Valley Growth Venture’s value creation, in 2018, the firm invested in partner MedPilot, a healthtech company focused on enhancing provider and patient communication to transform the patient experience. In March 2021, MedPilot became the fund’s first investment exit, as the company was successfully acquired by New Jersey-based Vytalize Health.
Sign #2: You need financial assistance to grow your business
If you’ve gotten to a point where you’ve identified a true need for your product or service, but you don’t have the funds to drive awareness and growth, it’s time to consider seeking out funding.
As the premier micro venture firm in Northeast Ohio, Valley Growth Ventures invests
in several industries, including but not limited to software, IT, energy, additive-
manufacturing, and advanced materials. We recognize when a growing company is ready to move beyond beta and begin commercialization, and partner with businesses to incorporate our knowledge, expertise, and capital resources to ultimately promote maturity to exit.
Sign #3: You have a solid founding team
The founding management team is the ultimate key to a successful business. People on your team can bring different, positive elements to the table. Some may be the visionaries, others the operationalists or strategists. But, combined, the team members have the same goals in mind and help the company reach them—with or without fail. You’ll know your co-founding “recipe” is suitable when you notice these characteristics in your team, and your members also help to onboard new employees to grow the company.
Calling all Ohio-based startups in the technology industry—this one’s for you! What stage are you at in your company’s growth? If you’re in the early stages, how are you moving your business forward in growth and development? How are you funding your business to move to the next stage? If you haven’t figured it out yet, securing funding could be the next step to propel your startup forward. But where do you start?
Start here. At Valley Growth Ventures, we’ve crafted the recipe to move early-stage businesses to high-growth companies across the state of Ohio. As a $6 million micro venture capital investment fund, we’ve partnered with exceptional startups in the tech and medical fields to increase their financial footprint and place them on the path to greater success.
As an example of Valley Growth Venture’s value creation, in 2018, the firm invested in partner MedPilot, a health tech company focused on enhancing provider and patient communication to transform the patient experience. During the partnership, MedPilot gained new business relationships through Valley Growth Ventures’ network, marketing support to reach a wider audience of clientele, and guidance and expertise to navigate business challenges. In March 2021, MedPilot became the fund’s first investment exit, as the company was successfully acquired by New Jersey-based Vytalize Health.
Valley Growth Ventures is well-connected in the Mahoning Valley area and comprised of members with extensive backgrounds in various industries to provide excellence, expertise, and experience in innovation. We invest in close partnerships with local startups to increase growth, build value in the community, and focus on financial returns. Our mission is simple: Generate positive ROI for investors while driving local wealth and job creation.
Ohio is seeing an explosive increase in venture capital investments. This year alone, Ohio has seen $1.1 billion of investment go into tech companies, already breaking the state’s full-year record for venture capital investment with more than five months to go. Seen as a business-friendly state, Ohio attracts global investment and fosters growth through a simplified tax structure, affordability, and diversification. Because the state is startup-friendly, it takes less funding to get businesses growing.
If you’re ready to take your startup to the next level, reach out to Valley Growth Ventures for more information on funding. We’re ready to help you secure the financial and operational support your business needs: firstname.lastname@example.org.