JumpStart Ventures announced it has achieved the first closing of NEXT Fund III, raising nearly $25 million toward its $50 million target. And NEXT Fund III is supported by the State Small Business Credit Initiative (SSBCI) Ohio, institutional and private investors and reinforces JumpStart Ventures’ commitment to providing tech founders with the capital they need to scale their startups.
NEXT Fund III will invest in Seed and Series A startups and build upon JumpStart Ventures’ two decades of experience supporting high-growth startups with risk capital while generating top returns for their investment partners.
NEXT Fund III is JumpStart Ventures’ third fund under the NEXT model and its eighth venture capital fund overall. With this first close, JumpStart Ventures is positioned to continue its momentum of funding high-growth startups.
JumpStart Ventures’ portfolio has created enthusiasm for the region’s venture capital ecosystem in recent years, as demonstrated by the growth of several venture-backed startups like Abre, Centerline Biomedical, OnStation, Cleveland Diagnostics, Orthobrain, Axuall, and Onshift. And 30+ portfolio companies like CoverMyMeds, Able Software, Wireless Environment, CardioInsight, and Vizzle have been acquired, generating significant returns for the investors.
JumpStart Ventures manages four unique investment funds to drive startup growth, combining stage-appropriate capital with deep connections and partnerships. As one of Ohio’s most active early-stage investors, the organization’s investment activities have generated top-quartile investment returns via nationally recognized exits and fundraises. NEXT Fund III will continue these efforts by investing in approximately 15 startups in the coming years.
KEY QUOTE:
“This close represents a significant step forward in supporting our region’s most ambitious founders. With the backing of our committed partners, we are focused on providing the capital and resources needed to help founders scale their businesses and bring groundbreaking technologies to market.”
– Hardik Desai, Managing Partner of JumpStart Ventures
