Winter Park, FL, March 21, 2014 --(PR.com
)-- venVelo, a multi-million dollar early-stage investment fund in Winter Park, Florida, announced today that is has closed a new round of financing.
“What has distinguished venVelo is its proven ability to make good decisions quickly and then leverage the skills and talents of our Board to mentor startup CEOs and leadership teams in business strategy, early-stage funding, and product distribution decisions,” said Richard Licursi, CEO of venVelo. “This new money will allow us to continue to grow our portfolio and provide additional funding to several of our current portfolio companies.”
venVelo’s portfolio includes three companies in the healthcare space (GENICON, Thrive, and Vigilant Biosciences), three in the digital/analytics space (flexReceipts, Kairos, and Splyt), and Zentila, an intuitive meetings management solution. Five of the seven are in central Florida; Kairos and Vigilant Biosciences are in south Florida.
venVelo also announced that it was considering funding and resourcing its own startup, but additional information was not yet available.
According to Allen H. Kupetz, the COO of venVelo, “The Board of Directors of venVelo views the new influx of capital as a testament to the progress the fund has made in less than two years and the increased valuation of our portfolio.” Kupetz added that venVelo’s early accomplishments include:
· Creating and raising a multi-million dollar fund to invest in early-stage companies;
· 11 investments in seven different early-stage companies in Florida;
· Assembling an experienced and accomplished board with expertise in diverse vertical markets;
· Co-investing with many other prominent Florida funds including Arsenal Venture Partners, Florida Angel Nexus, New World Angels, and Vocap Investment Partners;
· Building a strong brand around being constructive mentors to portfolio companies that has resulted in enhanced deal flow.
“We’ll likely invest in another 3-6 companies this year,” said Licursi. “We continue to see great companies with strong management teams and innovative product ideas throughout Florida.”
Learn more about venVelo at www.venVelo.com.