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JumpStart Ventures Sees First Portfolio Company Leave Nest

Thursday, May 20, 2010

Excerpt of story provided by hiVelocity
Written by Gene Monteith


JumpStart, formed in 2004 to give fledgling companies in northeast Ohio the resources needed to eventually fly on their own, has seen its first portfolio company leave the nest.

Yardi Systems, a Santa Barbara, Calif. company with offices in Broadview Heights, announced May 5 that it had acquired DIY Real Estate, a Broadview Heights-based property management software developer.

JumpStart, through its JumpStart Ventures arm, invested $340,000 in DIY in fall of 2008. The sale provides a return "in the 20 to 30 percent range," says Cathy Belk, JumpStart's chief marketing officer...

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