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QCA receives $3M grant from Ohio to create QCA First Fund IV This grant will allow the group to create its fourth Pre-Seed Fund, and continue its work in providing funding to deserving early-stage companies. See the press release from the state here. Tony Shipley testifies before congressional subcommittee QCA Chairman Tony Shipley was invited to testify before the House Committee on small Business Subcommittee on Economic Growth, Tax and Capital Access on April 19, 2012. Shipley, representing the Angel Capital Association and QCA, testified in a hearing about equity finance as a catalyst for small business growth. The full text of his remarks is here. You can see a video of his testimony here. Bioformix receives $13.6M investment Bioformix, a developer of energy efficient sustainable monomer and polymer platforms, announced in March 2012 that it closed a $13.6 Million Series A-1 round of funding. The new round was led by Braemar Energy Ventures and includes Arsenal Venture Partners, Mitsui Global Investment (MGI) and other strategic investors. Bioformix will use the funding to expand its operations, including R&D, production and commercial sales. QCA led the company's initial seed round in 2010. Read more about the company here. QCA participates in Blue Ash Therapeutics exit In April, 2011, Blue Ash Therapeutics announced that it had been purchased by Forest Labs. The sale resulted in a nearly 10x return for investors. News stories can be seen here and here. QCA exits Healthcare Waste Solutions One of the earliest investments of QCA, HWS was sold to Stericycle for $237M in April 2011. This was a very successful exit all equity investors. More information is here. AssureRx receives $11M funding AssureRx Health, the personalized medicine company, has announced a new funding round led by Claremont Creek Ventures and Sequoia Capital. The funds will primarily be used to increase marketing and sales efforts for its first product GeneSightRx®. QCA led the initial funding round for the company in 2006. The complete press release can be seen here. |
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QCA Funds 19 deals in 2011 The Queen City Angels investment group had another busy year. Its members and QCA First Funds invested in 19 different companies. For a description of the companies, see the deals page. Morning Mentoring: Experienced Advisors Help 36 Young Companies
C-Cap
and the Hamilton County Business Center
incubator have combined their resources for a fourth full year, to introduce
promising growth companies to their network of mentors.
We connect QCA investors, experienced entrepreneurs and
subject-matter experts to provide free individualized mentoring to four
companies a month at our half-day Morning Mentoring sessions. Entrepreneur Boot Camp Educates 43 Entrepreneurs Once again our Boot Camp sold out, educating a room full of aspiring entrepreneurs on how to build a successful start-up. C-Cap programs have now educated more than 440 entrepreneurs and 60 investors. Forty two Queen City Angel investors, venture capitalists and professionals advised the entrepreneurs in our unique “breakout sessions," meeting with entrepreneurs individually to hear their stories and give targeted advice. The next Boot Camp will be held in June 6-7, 2012. Click here for more informationAngel Groups across Ohio Collaborate on Investments The Queen City Angels and eight other groups of angel
investors throughout Ohio have formed an informal network so they can easily
invest in deals together. Tony Shipley, chair of Queen City Angels, is VaanGuard Advisor Network
In 2007 C-Cap and QCA established the Volunteer
Advanced Advisor Network of experienced entrepreneurs and senior executives,
called VaanGuard™, to mentor entrepreneurs. This past year the network
advised 21 young companies. Hamilton County Business Center and
CincyTech are our partners in this effort. We are harnessing our region’s
wealth of experienced managers to help local
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