Having an exceptional startup scene is nothing new to Connecticut. Tech-supportive jobs in the state have risen by 5.3% in 2022 with 7,000 tech companies producing more than 60,000 jobs.
With such a vibrant startup system, it’s no wonder hundreds of angel investors and venture capital firms are backing up these businesses.
Want to know who are these top-ranked investors?
Well, you have come to the right spot! The following list highlights some of the top-ranked venture capital firms that fund software businesses in Connecticut.
Following is the list of some of the most famous and active startup investors in Connecticut.
Contact: infoct@oakvc.com
Website: Oak Investment Partners
Focused Sectors: Fintech, Healthcare, Internet & Mobile, Consumer, Climate & Sustainability
Funding Stages: Early Stage, Late Stage, Series A
Present in: Norwalk, Stamford, San Francisco
Notable Investments: One Medical, Enjoy, Zayo
Total Investments: 480
Founded in 1978, Oak Investment Partners is a famous venture capital firm with more than 400 investments since its inception. The network was founded by Ed Glassmeyer and usually invests in early and seed-stage businesses that have the potential to grow.
The investors in Oak Investment Partners are highly experienced, funding startups that have a unique market advantage, products/services that solve problems, and are led by an experienced founder. Throughout the year, Oak Investment Partners arranges multiple pitching competitions to help startups secure an investment and the investors also make funding through startup fundraisers and incubators.
The investment range of Oak Investment Partners ranges between $5M to $50M.
Contact: ideas@spencertraskco.com
Focused Sectors: AI, Tech, Enterprise Software, Healthcare, Biotech, and Consumer
Funding Stages: Early and Seed
Present in: US
Notable Investments: Stefany
Total Investments: 200+
Spencer Trask & Co. is an active venture capital firm in Connecticut that has been operating since 1991. The network is well-known for having an experienced team of investors and actively investing in the software sector.
Similarly, when making investments, the investors fund software companies that are introducing new ideas and can easily operate on an international level. They look for businesses with strong leadership and well-qualified teams that are capable of generating at least 10x ROI within 5 years of investment.
Moreover, Spencer Trask & Co. also organizes different fundraisers, incubators, and mentorship events to boost the entrepreneurial landscape of Connecticut. The average check size of Spencer Taks & Co. can range up to several million dollars.
Contact: hello@haatch.com
Website: Haatch - Pre-Seed & Seed B2B SaaS SEIS & EIS Fund
Focused Sectors: Fintech, Enterprise Software, SaaS, Productivity, Health & Wellness, Future of Work, Marketplace
Funding Stages: Pre-Seed, Seed
Present in: UK and US
Notable Investments: Feeld Dating, Elevaate, Trumpet
Total Investments: 55+
Haatch is a venture capital firm specializing in early-stage investments. The network was founded in 2013 by a group of UK Tech enthusiasts (Scott Weavers-Wright OBE, Fred Soneya, Elaine Weavers-Wright). Ever since its inception, Haatch has funded many businesses and had 2 successful exits.
When making the investments, the investors from Haatch usually focus on businesses that have a decent growth potential and can leave a positive impact. Startups must address modern problems and present unique solutions at a scalable rate.
The average check size of Haatch ranges is around $1M.
Contact: info@ctinnovations.com
Focused Sectors: Information Technology, Software, Biotech, Consumer, Energy
Funding Stages: Seed and Late Stage
Present in: US
Notable Investments: VERADERMICS, INBOX HEALTH CORP, BUDDERFLY, INC, and ATHLETIC BREWING HOLDINGS
Total Investments: 40
Connecticut Innovations acts as a strategic venture capital firm and a resource provider for innovative companies in Connecticut. Founded in 1989, Connecticut Innovations usually invests in high-tech and software companies that are working to address global challenges. The investors strongly prefer businesses that can easily go international within the first year of the funding and generate at least 3x ROI within the first 2 years.
Moreover, Connecticut Innovations invests in startups through fundraisers, pitching competitions, and startup incubators. The social media team of Connecticut Innovations is also identifying trending businesses in the relative sector.
The investment range of Connecticut Innovations can go up to several million dollars, depending upon the startup.
Contact: About - Bullish
Website: https://www.bullish.co/about
Focused Sectors: Consumer, DTC, Food & Beverage, Health & Wellness
Funding Stages: Pre-Seed, Seed, Series A
Present in: New York, Denver, Stamford, Portland
Notable Investments: Pelaton, Harry's, Nom Nom
Total Investments: 38
Operating since 2010, Bullish is also a well-known venture capital firm that makes many investments in Stamford. The network was founded by Michael Duda and usually makes 1-2 investments every year.
Unlike other venture capital firms, Bullish usually makes a small portfolio but invests huge capital into startups that can be profitable in the long run. The investors from Bullish VC usually make deals that last up to 8 or 10 years.
Startups can apply for funding through the pitching competitions of Bullish or create a strong online profile to get noticed by their media agency. Alongside their investment activities, Bullish is also offering a huge range of other services including marketing, consultation for startups as well as mentorship.
The average check size from Bullish VC is around $10M.
Contact: djhans@galen.com
Website: Galen Partners
Focused Sectors: Healthcare
Funding Stages: Late Stage, Private Equity
Present in: Connecticut
Notable Investments: Quotient Biodiagnostics, Intouch Health, Sharecare
Total Investments: 15
Galen Partners is a healthcare-focused growth equity investment firm with a history of supporting innovative companies in the medical field. It was founded in 1990 and has five investment funds that span over $1 Billion.
The investors from Galen Partners are highly focused on the modern health tech or software businesses that can provide solutions in the industry. The firm is also actively investing in health tech software startups that are improving patient care and enhancing medical services.
The investment range of Galen Partners lies between $10M to $30M.
Contact: Get in Touch
Website: Realist Ventures
Focused Sectors: Software, Tech, Entertainment
Funding Stages: Early
Present in: US
Total Investments: 10+
Realist Ventures is also a venture capital firm that invests in promising tech companies. The network has been funding startups since 2018 and is headquartered in Colorado. With a strong focus on B2B and B2C startups, Realist Ventures usually invests in businesses at the early/seed stages and guides them through the different phases.
Like any other VC firm, Realist Ventures also wants to have a profitable business in its portfolio and generate at least 5x ROI within 2 years. The investors are highly experienced and usually invest in software startups that are led by experienced founders and can scale internationally.
The investment range of Realist Ventures can range up to several million dollars depending upon the business.
Contact: Get in Touch
Website: Tidal River Fund
Focused Sectors: Sector Agnostic
Funding Stages: Early
Present in: Connecticut
Notable Investments: Rivia Health, Marani Health, Matriark Foods
Total Investments: 4
Tidal River Fund is a recently founded investment fund also known as the "Tidal River Women's Investor Group". The network was established in 2020 and has a strong focus on women-led businesses to create equality and boost the concept of women entrepreneurship.
The investors from Tidal River Fund are well-experienced and many of them are past entrepreneurs helping them select the best startups and providing them with funding. TRF is also known to make investments in the tech as well as software sector, provided that the business can make huge positive impacts and doesn't have a lot of market competition.
Moreover, Tidal River Fund also organizes many mentorship programs, some specific to portfolio companies while others are open to the public. They are working on a great initiative to educate the women's community of Connecticut and help female entrepreneurs thrive.
The investment range of Tidal River Fund is around $500,000 as they usually make early-stage investments.
As we are done reading the list of the top 8 software investors in Connecticut, let us wrap up by sharing some great tips.
Before pitching to venture capital firms, we always recommend founders do extensive research and understand the specific angel investors. This helps in:
Develop a better understanding of the questions in the business meeting
Predicting what the investor wants from you as a startup leader
Securing the investment by presenting your startup as the perfect fit for the standards set by the VC firms.
And in the end, always remember that it’s not easy to secure funding for your business. There will be a lot of hurdles to face but always keep learning and improving after each failure!
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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