VGV Invests Nearly $400K in 7 Months for Ohio Technology Startups
Youngstown, Ohio – Local VC Fund, Valley Growth Ventures has invested nearly $400K of funding for its portfolio companies within the past several months as part of attracting total capital exceeding $5.3 million.
"We at VGV are proud of the portfolio we have built to date and are excited that each company is positioned to navigate the current environment and drive toward a successful future. The support we have received throughout the Mahoning Valley has been tremendous, and we look forward to rewarding our investors with strong financial returns," said Ernie Knight, Managing Director.
Valley Growth Ventures (VGV) is a $6 million "micro" venture capital investment fund created to support high-growth, early-stage companies across the state of Ohio, with a preference for those in the Mahoning Valley. Founded as a strategic collaboration between five regional Mahoning Valley organizations, VGV serves to aid in the growth of companies across Ohio, but particularly to those in the Valley. The Fund leverages the industry expertise, personnel, facilities, talent network, and operations of our investment team and partner organizations to produce high growth companies and generates substantial returns for investors.
While Silicon Valley is known as the “capital” for technology startups, a growing trend is emerging in the Midwest. According to a 2018 report, Ohio, particularly Northeastern Ohio, has the highest growth of entrepreneurship in the Midwest.
"When you're building a startup, you need all the help you can get! Valley Growth Ventures has fully rolled up their sleeves to help us in a multitude of areas like company strategy, business development, and marketing," said MedPilot Cofounder Matt Buder Shapiro.
Since initiating investments in 2018, the fund has four portfolio companies across multiple industries, which include:
· S4 Medical - S4 Medical is a medical device company focused on innovative solutions for cardiac procedures to treat atrial fibrillation.
· DAtAnchor-DAtAnchor is a data security solution, which provides seamless and easy to use strong encryption, automated data governance, and dynamic access control and revocation capabilities, enabling businesses to protect their sensitive data.
· MedaSync- MedaSync provides innovative real-time, predictive business intelligence and decision support software to help nursing homes stay financially sound.
· MedPilot-MedPilot is a leading patient financial engagement platform working with outpatient facilities, hospitals, revenue cycle management companies, and practice management systems.
VGV serves as an active investor within each startup, providing strategic guidance and operational resources to help pave the way for successful businesses to grow and scale their companies.
"Valley Growth Ventures has been extremely strategic for our company. They've done everything from introducing us to one of our largest customers to helping us best position our company for investors. We're very fortunate to consider Managing Director Ernie Knight, a true partner of our company," said Shapiro.