Charter Life Sciences II raises $6 million from Ohio Capital Fund

The Ohio Capital Fund has committed $6 million to Charter Life Sciences II, a Cincinnati-based venture capital fund. CLS invests in early-stage life sciences ventures, and is led by Dr. Donald Harrison, former provost for health affairs at the University of Cincinnati Medical Center. CLS lists nine companies in its portfolio, including EnteroMedics Inc., which is developing a device to treat obesity, and CoRepair Inc., which is developing a radio frequency device to treat congestive heart failure. The Ohio Capital Fund is a state-sponsored initiative that invests in venture capital funds that commit to invest in Ohio early-stage companies. CLS was one of four funds receiving new commitments from the Ohio Capital Fund. These commitments bring the TOCF’s total investments to $93.5 million to date."The State has a strong commitment to providing resources to entrepreneurs," says Paul Cohn, regional director for the Ohio Capital Fund.

Writer: David Holthaus
Source: Jeff LaRue, Ohio Capital Fund