Colorado, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Innosphere Fund I, an early-stage venture capital fund made available to client companies of Innosphere, Colorado’s high-tech incubator, has announced the fund has raised $5 million. With $2 million left before the final fund close, the Innosphere Fund is expected to be fully subscribed at $7 million during the first quarter of 2018.
The Innosphere Fund is an early-stage venture capital fund made available to Innosphere client companies that meet certain qualifications. Innosphere is a non-profit technology incubator supporting high-growth companies in the industries of bioscience, life science, enterprise software, hardware, water, energy, transportation, and advanced materials. The Innosphere Fund operates outside of Innosphere’s non-profit organization.
Innosphere Fund’s first investment was made to Denver-based Incident Response Technologies, Inc. (IRT) in October 2017. IRT provides software, primarily to Police and Fire Departments, and is utilizing the seed round funds to scale the revenue of their business, through further investment in product features and marketing and sales staff.
Innosphere’s incubation program accepts two cohorts of client companies each year. “The formation of the fund has improved access to capital for startup and scaleup companies in Colorado. This has resulted in an increase in the number and quality of companies applying to the program,” said PJ Williams, Innosphere Fund Senior Associate. “Companies accepted into the incubation program are now more mature, which means they’re closer to being investor ready.” Innosphere’s Fall 2017 cohort includes seven startup and three scaleup companies across the life science and enterprise software industries.
For more information on Innosphere Fund I, contact General Partner, Mike Freeman at Mike.Freeman@innosphere.fund or (970) 818-7736, or Senior Associate, PJ Williams, at pj@innosphere.org or (970) 818-7738.
About Innosphere Fund I:
The Innosphere Fund is an early-stage venture capital fund made available to Innosphere client companies that meet certain qualifications. The fund operates outside of Innosphere’s non-profit organization.
About Innosphere:
Innosphere is a non-profit technology incubator accelerating the success of high-impact science, engineering, and technology startups. Innosphere has physical locations in Fort Collins, Denver, and Boulder, Colorado to support entrepreneurs building potential high-growth companies in the industries of bioscience, life science, enterprise software, hardware, water, energy, transportation, and advanced materials. Innosphere’s incubation program focuses on ensuring companies are investor ready, connecting them with experienced advisors, making introductions to corporate partners, and solidifying customer acquisition strategies. Once accepted into the program, companies receive customized development plans and ongoing support to ensure they’re getting the know-how to raise the right kind of capital and all the resources to grow. www.innosphere.org
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Attachments:
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