JumpStart Launches $50M NEXT II Fund
Cleveland-based JumpStart Inc. has launched its $50 million JumpStart Next II Fund, which targets software applications for businesses, as well as health care and medical tech ventures.
According to its SEC filing, the minimum investment accepted in this fund is $100,000.
Jumpstart, a venture development organization that combines the principles of private venture capital and non-profit economic development to help entrepreneurs start and grow companies, was awarded $10 million in March from the Ohio Third Frontier Commission, money that will be used for this fund. Its Evergreen Fund III and Healthcare Collaboration Fund also received $5 million and $4 million, respectively.
JumpStart says as of October 2020 it has invested more than $61 million into 125 Ohio tech startups. Its NEXT Fund I is a $20 million for-profit venture fund focused on early-stage technology startups located in Ohio. It was designed to make Series A investments typically in the range of $500k and $1.5M.
This article originally appeared in Smart Business Dealmakers on June 28, 2021.