The Queen City Angels’ First Fund III, managed by the Queen City Angels investment group, is a $4 million fund launched earlier this year. It allows companies to expand their technology into the marketplace, finish and test business plans and grow. The group hasn't wasted time investing, putting $3 million into three varied Ohio tech startups this year. Recently, QCA and its co-investors have invested in:
* Collaborent Group, Ltd., in Cleveland, which creates and manages group purchasing plans for government agencies. It recently expanded to serving private sector customers.
* Transactiv, in Cincinnati, which is developing an online business-to-business purchasing solution that leverages social network systems to improve and streamline purchasing decisions.
* Neuros, in Cleveland, which has developed a pain-blocking therapy targeted to veterans and others who suffer ‘phantom pain’ from amputated limbs.
"Companies with innovative technologies and business ideas have the best chance of becoming high-growth companies that will create lots of jobs in Ohio and be good investments for those who get in early," said John Habbert, co-manager of the QCA Fund.
Queen City Angels is a group of experienced, accredited investors that funds young start up tech companies, primarily in Southwest Ohio.
"Transactiv is at the forefront of a profound shift in how businesses conduct Internet commerce using leading social networks," said Karl Perron, CEO of Transactive. "The highly experienced and successful members of the Queen City Angels recognized this opportunity, and have provided their invaluable expertise to our business by helping us refine our vision, realize our business plan, and raise new funds in the Midwest."
The QCA First Funds I, II and III have invested in 22 companies total.
Writer: Feoshia Henderson
Sources: Jim Cunningham, Queen City Angels/C-Cap and Kevin Wilson, Kevin Wilson PR
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