Valley Growth Ventures Invests in 4 Companies
YOUNGSTOWN – Valley Growth Ventures, a $6 million micro venture capital fund established in 2017, worked with four portfolio companies in 2019, reports managing director Ernie Knight.
The fund was created as a collaboration with the Youngstown Business Incubator, Youngstown State University, Brite Energy Innovators, Mercy Health, Mahoning Valley Economic Development Corp., Ohio Third Frontier and the Ohio Development Services Agency. It is supported by more than 50 investors.
Portfolio companies are software platform MedaSynce, which provides predictive financial intelligence and decision support services to skilled nursing centers; DatAnchor, which provides data encryption and automated governance for business; MedPilot, a platform that combines practice management systems with analytics to improve medical practices’ patient outreach; and S4 Medical, a medical device company focused on cardiac procedures.
“With the support of VGV, S4 achieved a major milestone by successfully completing its first human study,” Knight says.“The study provided insight and allowed for product enhancements, development and new investment.”
Knight expects VGV to invest in two or three companies in 2020 and maintain its current portfolio.
Copyright 2023 The Business Journal, Youngstown, Ohio.