The SaaS sector has attracted trillions of investments worldwide. In 2022 alone, SaaS startups in the US raised a record-breaking amount of $6 Billion in funding, proving that the sky's the limit for innovative cloud-based solutions.
Similarly, with an exceptional tech ecosystem, Connecticut is home to some of the biggest SaaS companies, such as Sponsor United and Protegrity USA, with around 6 million users.
But, are there any venture capital firms that help these startups grow?
Of course! The following list highlights the top 6 venture capital firms in Connecticut.
Let us move on to the list of top-ranked VC firms in Connecticut with the most investments. To save your time and help you secure the investment, we have also added additional details such as contacting emails/forms, investment ranges, stages, and much more!
Getting to the list now!
Contact: Get in Touch
Website: Viking Global
Focused Sectors: SaaS, Fintech, Greentech, Agritech, Healthtech, Life Sciences, Biotech, Digital Businesses, Consumer Products, and Industrial Services
Funding Stages: Early, Growth, Late Stage
Present in: Global Market
Total Investments: 300+
Funding startups since 1999, Viking Global is a global investment firm managing a diverse portfolio across asset classes, including venture capital. The network has more than $45 Billion of assets in management and is one of the most famous startup investors in Connecticut.
When investing in startups, Viking Global prefers startups that are led by experienced founders and are willing to partner for a long-term deal. The investors from Viking Global also prioritize businesses that are introducing unique SaaS ideas and already have some achievements in their operation history.
The investment range of Viking Global can range up to $10M.
Contact: investors@teamworthy.com
Website: Teamworthy Ventures
Focused Sectors: Consumer Software, SaaS, and Enterprise Software
Funding Stages: Seed, Early, and Growth
Present in: US
Total Investments: 100+
Headquartered in Greenwich, Teamworthy Ventures is a notable VC firm in Connecticut. The network has been operating since 2014 and usually funds startups at the early and growth stages.'
The investors from Teamworthy Ventures aren't quite strict with the ROI generation. They want to help early-stage SaaS startups grow and provide them with the best guidance. Teamworthy Ventures has a broad interest in the SaaS and usually in businesses that are dealing with:
Customer Acquisition and Retention
Sales Enablement
Data Management and Security
Enterprise Resource Planning (ERP) and Finance
Human Capital Management (HCM)
The investment range of Teamworthy Ventures is around $500,000
Website: Activant Capital
Focused Sectors: technology, e-commerce, supply chain, retail infrastructure, logistics, financial technology, commerce, insurance, and healthcare.
Funding Stages: Seed
Present in: US
Notable Investments: Boltech, 98point6, Better, Benson Hill, and Baton
Total Investments: 40+
Operating since 2015, Activant Capital is also an active venture capital firm that funds high-growth companies. It is headquartered in Greenwich and has funded many SaaS businesses that demonstrated a potential to generate huge profits.
Activant Capital makes most of its startup investments through pitching competitions and startup fundraisers. Every year, they allow businesses to submit online forms through the website and select startups that have the best-looking pitch decks.
Investors usually prefer businesses that can at least generate 10x ROI within 5 years of investment and are at the seed stage. The investment range of Activant Capital can extend up to $20M.
Website: Brighton Park Capital
Focused Sectors: Software, Healthcare, Tech-enabled Services
Funding Stages: Growth Stage
Present in: United States
Notable Investments: Paradox, Storyblock, Port Swigger, Silverfort, Lucidlink, Data Visor and Dark Trace
Total Investments: 30+
Brighton Park Capital is a growth equity firm that also invests in Connecticut-based start-ups. It has been investing in early and seed-stage companies since 2019 and has invested more than $500M already.
The team of investors is well-experienced and only invests in businesses that can solve a modern problem through software services. Moreover, Brighton Park Capital is well-known for its active involvement in a wide range of startup events.
Every year, they arrange celebrity events where many well-known US investors are invited and also conduct startup fundraisers to help deserving businesses get an investment.
The investment range of Brighton Park Capital can range up to several million dollars, depending upon the startup’s target market and estimated ROI.
Website: VC23 Investors
Focused Sectors: Biotechnology, Life Sciences, Technology
Funding Stages: Early Stage
Present in: United States
Notable Investments: Codetta Bio, AlphaWave, innRoad
Total Investments: 20+
VC23 Investors is a venture capital firm based in Avon. The network is primarily focused on biotech and SaaS startups that have the potential to grow and scale internationally. VC23 Investors usually like to make early-stage investments and always prefer businesses that can generate a great ROI.
Every year, VC23 Investors conduct live pitching competitions and allow business leaders to secure an investment from the angels. The network believes in pushing and boosting breakthrough technologies that are led by experienced founders and strong management teams.
The investment range of VC23 Investors can range up to several million dollars depending upon the business.
Website: Alerion Partners
Focused Sectors: Consumer products, marketing and business services, targeted media
Funding Stages: Growth Equity
Present in: United States
Notable Investments: DeliverCareRx, InStadium, TeachTown
Total Investments: 20+
Alerion Partners is a growth equity firm that is headquartered in Darien, Connecticut. The network was founded in 2004 and has invested in many early and seed-staged businesses in the SaaS sector.
When making investments, Alerion Partners strictly focuses on businesses that can scale internationally and are dealing in low-competition sectors. The investors conduct 2-3 pitching competitions every year and invest in around 4 startups that have:
A unique idea with a problem-solving strategy
Experienced Leaders
Strong management teams
Once a business has secured the funding, Alerion Partners also provides them with the required guidance throughout different stages. The investment range of Alerion Partners can range up to several million dollars depending upon the startup.
It is no hidden secret that Connecticut has a great environment for SaaS startups, but there are some challenges that a new founder will need to go through.
Even with a decent number of venture capitalists ready to invest, securing an investment might still be a hurdle for newly established startups.
The reason is: fresh CEOs cannot present their ideas in the right manner due to low confidence. They often think that:
Their startup isn’t a great idea to begin with
A little funding is enough because asking for a big amount would make the investors reject them.
Two common things that SaaS startups in Connecticut lack include:
Remember that establishing a connection with angel investors beforehand helps you understand their investment interests and answer the questions in the best way!
We often recommend startup leaders attend startup programs or get connected online with the investors. This way, they can easily connect with investors and gain valuable insights into investor preferences and expectations for the startup.
A great online presence is the best way to secure funding for your business and here is how:
Angel investors or Venture capitalists have social media teams who are always monitoring the related business sector. Startups that consistently share their achievements and milestones are more likely to attract investor interest, potentially leading to partnerships or acquisition offers.
So, as we have completed the list of the top-ranked venture capital firms in Connecticut, here’s what to do next.
Shortlist the venture capital firms with identical business interests.
Conduct detailed research on each of the venture capital firms before submitting a pitch deck.
After you are done researching, prepare a pitch that looks great and grabs attention.
Watch some old pitching competition videos of the specific venture capital firm and see what kind of questions the investors ask.
Good Luck!
A: Yes, many angel investors provide mentorship programs and financial support. They leverage their experience to offer strategic insights, assist in critical decision-making, and facilitate introductions to their network connections. This mentorship is pivotal for startups, aiding them in overcoming obstacles and expediting their growth trajectory.
A: To make a startup investible, focus on a scalable business model, a strong team, a well-defined market opportunity, and evidence of market validation.
A: Venture capital firms are organized setups that aggregate capital from various investors and deploy it into startups at a larger scale, offering expertise and guidance.
In contrast, individual angel investors are private individuals who invest personal funds directly into startups, typically at an early stage, using a more personalized approach and hands-on involvement in the startup's growth.
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