Monday, November 08, 2004

Red-state remuneration

Draper plans to establish Ohio office
Cincinnati startups will have access to $60M
(By Steve Watkins, Pittsburgh Business Times)

    Draper Triangle Ventures, one of Pittsburgh's largest venture capital firms, plans to open a Cincinnati office early next year, giving entrepreneurs in eastern Ohio access to a $60 million fund.

    Draper invests mainly in early-stage advanced software, medical device, MEMS, automation and nanotechnology firms. It announced in September it had raised $40 million toward its goal of building the $60 million fund by next spring. Draper said then that it expects to fund roughly 25 startups over the next five years, with initial investments ranging from $500,000 to $2 million. More here

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