About Connecticut Innovations
Connecticut Innovations is a venture capital firm founded in 1989. It is primarily based out of New Haven, United States. As of Aug 2026, Connecticut Innovations is an active investor, having invested in 474 companies, with 15 new investments in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Life Sciences and High Tech. Most recently it participated in the $***** Series B round of Queen One Overall, Connecticut Innovations portfolio has seen 13 IPOs and 93 acquisitions including key companies like Alexion, Advent and Valera Health. A lot of funds co-invest with Connecticut Innovations, with names like LaunchCapital sharing a substantial percentage of its portfolio. Connecticut Innovations has team of 39 people including 10 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 8 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Soonicorns
Deals in last 12 months
Connecticut Innovations' List of Top Investments
Connecticut Innovations has a portfolio of 474 companies. Their most notable investments are in Convexity Scientific and Driver Technologies.Their portfolio spans across United States, Israel, India and 14 more locations. They have invested in Enterprise Applications, Life Sciences, High Tech and 37 other sectors, across stages such as Seed, Series A and 8 more. Here is the list of top investments by Connecticut Innovations:1. M2P Fintech
Provider of APIs enabling banking, lending, and payment financial services. The company offers solutions for customer onboarding, core banking systems, and payment processing. It facilitates card issuance, core lending, and digital commerce. The company provides tools for regulatory compliance, fraud management, and rewards programs. It also offers value-added services, including reconciliation, KYC, and anti-money laundering solutions.
Key facts about M2P Fintech
- Founded Year: 2014
- Location: Chennai (India)
- Annual Revenue: ₹500 - ₹1,000 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $188M
- Employee Count: 1,290 as on Aug 31, 2025
- Investors: Nexus Venture Partners, Visa and 63 Others
- Latest Funding Round: Series D, Jun 30, 2025, $*****
- Highlight: Editors' Pick
2. Alexion
Developer of therapies for patients with devastating and rare diseases. The company has developed therapeutics for hematology, nephrology, neurology, metabolic, and cardiology disorders. Alexion developed Soliris which is a terminal complement inhibitor for the treatment of myasthenia gravis and Ultomiris for the hemolytic uremic syndrome.
Key facts about Alexion
- Founded Year: 1992
- Location: Zurich (Switzerland)
- Stage: Acquired
- Total Funding till date: $133M
- Employee Count: 5,151 as on Jul 31, 2026
- Investors: Allen & Company, Gershon Capital and 9 Others
- Latest Funding Round: Conventional Debt, Jun 15, 2018, $*****
- Highlight: Acquired
App and hub for connected device management. It enables users to coordinate with different connected products and control them. Device controls smart plugs thus bringing automation to appliances. The app can be used to schedule devices on/off time and for climate control. App also integrates with streaming services like Netflix. Partners include Sonos, Honeywell, Sony, Lutron.
Key facts about Savant Systems
- Founded Year: 2005
- Location: Barnstable (United States)
- Stage: Late Stage
- Total Funding till date: $90M
- Employee Count: 231 as on Jul 31, 2026
- Investors: Connecticut Innovations and KKR
- Latest Funding Round: PE, Sep 03, 2014, $*****
- Highlight: Editors' Pick
Crafting innovative non-alcoholic beer and sparkling hop water for everyone. We are dedicated to brewing delicious, high-quality non-alcoholic craft beers and refreshing sparkling hop waters. Our online shop offers a diverse range of products, including best sellers, limited editions, variety packs, and member-exclusive brews. Customers can join our club for exclusive perks, discounts, and first access to new products through a subscription model. We are committed to sustainability and giving back to local trails. Our website features options to add to cart, login, find in store, and explore our story, values, and brewing process. We also offer digital gift cards and merchandise.
Key facts about Athletic Brewing
- Founded Year: 2017
- Location: Milford (United States)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $251M
- Employee Count: 282 as on Jul 31, 2026
- Investors: Trinity Capital, General Atlantic and 18 Others
- Latest Funding Round: Series D, Jul 09, 2024, $*****
- Highlight: Editors' Pick
5. Advent
Provider of solutions for the fuel cell. It offers fuel cells that convert hydrogen and other renewable fuels to electricity. Its other products include fuel cell material, flow battery membrane, and organic photovoltaics.
Key facts about Advent
- Founded Year: 2006
- Location: Boston (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2024
- Stage: Public
- Total Funding till date: $8.9M
- Employee Count: 42 as on Jul 31, 2026
- Investors: Jai Capital, DOE and 4 Others
- Latest Funding Round: Grant (prize money), Jan 01, 2020, $*****
- Highlight: Public
Connecticut Innovations' Year-on-Year Investment Trends
Connecticut Innovations has invested in 474 companies over the last 33 years, with an average of 11 new investments annually in the last 10 years. In 2025, it made 11 investments, while as of Aug 2026, it has made 12 investments in this year. Its most recent first time investment was in Queen One and most recent follow-on round was in P2 Science.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 10 | 2 | 12 |
2025 | 11 | 0 | 11 |
2024 | 10 | 3 | 13 |
2023 | 10 | 4 | 14 |
2022 | 10 | 4 | 14 |
2021 | 11 | 5 | 16 |
2020 | 9 | 13 | 22 |
2019 | 11 | 11 | 22 |
2018 | 15 | 4 | 19 |
2017 | 8 | 9 | 17 |
Connecticut Innovations' Investments by Stage
Connecticut Innovations has made 105 investments in Seed stage with an average round size of $1.74M, 68 investments in Series A stage with an average round size of $8.88M and 21 investments in Series B stage with an average round size of $25.4M.Stage of entry | No. of Investments |
|---|---|
Seed | 105 |
Series A | 68 |
Series B | 21 |
Series C | 7 |
Venture Debt | 6 |
Others | 13 |
Note: We have considered here, only first round of investments
Connecticut Innovations' Investments by Sector
Connecticut Innovations has a diverse portfolio, with companies operating in the Enterprise Applications, Life Sciences, HealthTech, High Tech and Vertical SaaS. Notably, it has invested in 348 Tech companies, 308 Enterprise (B2B) companies, 183 Software companies and at least 111 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 78 |
Life Sciences | 67 |
HealthTech | 40 |
High Tech | 40 |
Vertical SaaS | 30 |
Others | 203 |
Note: We have considered here, only first round of investments
Connecticut Innovations' Investments by Geography
Connecticut Innovations has made most investments in United States (192), followed by Israel where it has made 10 investments.Country | No. of Investments |
|---|---|
United States | 192 |
Israel | 10 |
India | 4 |
Canada | 3 |
Switzerland | 3 |
Others | 6 |
Note: We have considered here, only first round of investments
Connecticut Innovations' recent investments
Connecticut Innovations has made 12 investments in 2026 so far. Queen One and Adaptive Insurance are the latest among them.Here are the most recent investments by Connecticut Innovations:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 19, 2026 | United States | Series B | 8562 | [+3] | |
Jul 08, 2026 | United States | Series A | 6842 | ||
Jun 03, 2026 | United States | Series A | 8135 | [+4] | |
May 27, 2026 | - | Seed | 7666 | [+3] | |
May 27, 2026 | United States | Series D | 6728 | [+8] |
IPOs and Publicly Listed companies in Connecticut Innovations' Portfolio
13 of Connecticut Innovations' portfolio companies have become public. VeraDermics got listed on the New York Stock Exchange (NYSE), in Feb 2026 at marketcap of $567M and Azitra got listed on the American Stock Exchange (NYSEAMERICAN) at marketcap of $60.4M.Here are Connecticut Innovations' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Feb 04, 2026 | Sep 22, 2021 | Series A | 8330 | |
Jun 16, 2023 | May 02, 2018 | Series A | 8208 | |
Jul 29, 2021 | Apr 20, 2018 | Series A | 3792 | |
May 10, 2021 | Feb 23, 2017 | Series B | 7207 | |
Jan 08, 2021 | - | - | 3686 |
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Acquired companies in Connecticut Innovations' Portfolio
93 companies from Connecticut Innovations' portfolio have been acquired. The most recent acquisition was Valera Health in Jul 2026 by Mindoula for $*****.Here are Connecticut Innovations' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 22, 2026 | - | - | 5151 | |
Mar 20, 2026 | - | - | 3433 | |
Feb 27, 2026 | Feb 10, 2021 | Series A | 9968 | |
Feb 23, 2026 | Nov 05, 2018 | Seed | 4290 | |
Feb 19, 2026 | Aug 2021 | Seed | 2484 |
Team profile of Connecticut Innovations
Connecticut Innovations has a team of 39 members including 10 Partners, 6 Venture Partners and 8 Principals located in United States. Connecticut Innovations' team sits on the board of 1 company.Here is a list of top team members in Connecticut Innovations:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Hartford | - | ||
Partner | Essex | - | ||
Partner | Old Greenwich | - | ||
Partner | Hartford | - | ||
Partner | Stamford | - | ||
Partner | United States | - | - | |
Partner | New Haven | - | - | |
Partner | New Haven | - | - | |
Partner | Middletown | - | - | |
Partner | Glastonbury | - | - | |
Venture Partner | Hartford | - |
Co-investors of Connecticut Innovations
Over the past 33 years, 887 investors have co-invested in Connecticut Innovations's portfolio companies. This includes funds and angels.
- Invested before Connecticut Innovations: HHS, Europa and 238 others have invested in rounds before Connecticut Innovations. There are 5 companies where HHS has invested before Connecticut Innovations and 4 companies where Europa has invested before Connecticut Innovations.
- Top Co-investors of Connecticut Innovations: 362 investors entered a company along with Connecticut Innovations. These include investors like LaunchCapital (12 companies).
- Invested after Connecticut Innovations: A total of 285 investors have invested in Connecticut Innovations's portfolio after their investments. Top Investors include HHS (10 companies), Advantage Capital (10 companies) and NIH (7 companies).
Recent News related to Connecticut Innovations
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CT Innovations Reports Record $66.5M in Proceeds for FY '26Hartford Business Journal•Jul 22, 2026•Connecticut Innovations
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Cypher AI: $2 Million Seed Raised To Build AI-Native Infrastructure For Life Science R&DPulse 2.0•May 28, 2026•Sparta Group, LiquidMetal Ventures, Cypherbio, Epsilon Ventures and 2 others
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Cypher AI Raises $2M in Seed FundingFinSMEs•May 27, 2026•Cypherbio, LiquidMetal Ventures, Sparta Group, MaC Venture Capital and 1 other
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Vortex Imaging Raises $12M in FundingFinSMEs•May 18, 2026•PhiFund Ventures, Vortex Imaging, 10D, Connecticut Innovations and 1 other
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Crew Carbon Raises $25M in Series A and GrantsFinSMEs•May 15, 2026•Kibo Invest, York Ventures, Crew Carbon, Ponderosa Ventures and 8 others
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Mongoose AI Raises Seed Extension FundingFinSMEs•May 14, 2026•Connecticut Innovations, Vertical Venture Partners
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Quorus Raises $5M in Seed FundingFinSMEs•Mar 17, 2026•Quorus, Nassau Financial Group, WisdomTree, Connecticut Innovations
