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Success of Startups Creates Need for Capital
COLUMBUS, Ohio -- Investors put $149 million to work with Ohio entrepreneurial companies in 2013, according to a report released Monday by VentureOhio.
VentureOhio, founded last year, describes itself as “a unified voice for the capital sources and other organizations that finance or support high growth that seek to make Ohio a preferred location for high potential entrepreneurial activity.”
Its report points out the need for more capital if the needs of the growing companies are to be met.
The report is based on responses from 48 investors, 34 of which have their headquarters in Ohio.
Investors made 156 investments in 129 Ohio companies last year, the report found.
"This report shows a vibrant community of startup entrepreneurs and investors that is creating value for their stakeholders and the Ohio economy," said John McIlwraith, chairman of VentureOhio.
Ohio VentureReport 2013 shows that investors have $260 million in capital available for follow-on investments in companies and for new investments. In an earlier report issued in June, VentureOhio posited the need for $523 million in capital by the end of 2015 to fund growth in Ohio's seed/startup and early-stage companies.
Published by The Business Journal, Youngstown, Ohio.
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