, the Boulder, Colo.-based accelerator known for investments in companies like Uber and GroupMe, has teamed up with Cintrifuse
to add to their network of successful, fast-growing companies across the country.
Cintrifuse is making its sixth major venture investment in Techstars Ventures due to the accelerator’s reputation as a company builder, not to mention their $150 million Seed and Series A fund. Techstars was attracted to the Cintrifuse mission due to the success of the Cincinnati ecosystem in recent years.
“Cincinnati has large, high-caliber corporations and a thriving startup community,” says David Cohen, Techstars co-founder and managing partner of Techstars Ventures, “so partnering with Cintrifuse will just continue to bolster the region’s flourishing startup ecosystem.”
Techstars Ventures is known for co-investing in companies that have graduated from the Techstars accelerator or are otherwise connected with the Techstars alumni network. Major Techstars players like Cohen are constantly looking to expand that reach, and the Cincinnati ecosystem proved just the market they were looking for.
“Bringing the attention of this Boulder-based startup stalwart to Cincinnati is a testament to the impact of our strategy,” says Eric Weissmann, director of marketing for Cintrifuse.
The investment in Techstars Ventures comes from Cintrifuse’s Fund of Funds
, a for-profit fund that invests solely in other venture funds. With this fund, Cintrifuse hopes to increase venture capital activity in the region.
“Building a startup ecosystem around a fund of funds that’s supported by major corporations is very unique and already garnering national attention for the access it’s providing to both startups and corporates alike,” Weissmann says.
The investment means that Cincinnati startup companies, particular those connected with Cintrifuse, will see their network of mentors and investors expand tremendously. With the implementation of Techstars Ventures’ regional engagement plan, Cincinnati startups will see the benefits of the partnership quite quickly.