The Greater Cleveland Partnership (GCP) made a limited-partner investment in JumpStart’s new for-profit $20M venture capital fund.
Called the JumpStart NEXT Fund, the vehicle focuses on co-investing with other VCs and private-sector investors in Ohio-based companies who need to raise $2M-$8M in private capital to continue their growth.
The Press Release
Greater Cleveland Partnership to support new $20M venture capital fund led by JumpStart
CLEVELAND, Nov. 9, 2015 /PRNewswire-USNewswire/ – The Greater Cleveland Partnership (GCP) is pleased to announce its limited-partner investment in JumpStart’s new for-profit $20M venture capital fund called the JumpStart NEXT Fund.
The fund is focused on co-investing with other VCs and private-sector investors in Ohio-based companies who need to raise $2M-$8M in private capital to continue their growth.
“When GCP launched JumpStart in 2001, our hope was that the organization could truly raise the bar for high-growth start-up companies in the region,” said GCP President and CEO Joe Roman. “This fund demonstrates how JumpStart continues to outperform original expectations.”
Ray Leach, CEO of Jumpstart, indicated that the GCP was one of the earliest investors to sign on, “which is a tremendous vote of confidence from the overall business community in JumpStart’s fundraising efforts.”
The GCP will host an informational meeting about the fund at 4:30 p.m., Thursday, Nov. 12 at the GCP offices, 1240 Huron Road East.
About the Greater Cleveland Partnership
The Greater Cleveland Partnership mobilizes private-sector leadership, expertise and resources to create attractive business conditions that create jobs, grow investment and improve the economic prosperity of the region. www.gcpartnership.com.
JumpStart is part of the regional economic development system that the GCP helped to create and continues to support.