Cintrifuse, a "regional effort designed to ensure startups get the early stage venture capital they need to survive," announced during a meeting with Ohio Third Frontier officials last week that it expects to close on $10 million in funding from an undisclosed source, Cincinnati Enquirer reports. The entity, which is planning to move into a "40,000-square-foot campus in Over-the-Rhine," expects to eventually raise "between $50 million and $100 million." The funds, some amount of which came from "Procter & Gamble, The University of Cincinnati, Cincinnati Children’s Hospital Medical Center, Western & Southern Financial Group and Duke Energy," will not be directly invested in regional startups – instead, Cintrifuse "will invest in roughly 10 venture capital funds around the country" with the idea being that "the quality of local startups will merit an investment," the article said. For more, read the full story.
Undisclosed source provides another $10 million toward Cintrifuse funding
