Connecticut Innovations ("CI")

As Connecticut's strategic venture capital arm and one of the most active investors on the eastern seaboard, CI has a portfolio of 220+ companies across various industries, with strengths in life sciences, technology and climate tech. CI meets with hundreds of companies every year, identifying the most promising early-stage companies looking to grow in the state. Every year, CI invests in 20+ new companies, in addition to providing follow-on capital to existing portfolio companies. CI also invests as a Limited Partner in outside venture funds based in CT (17 in the past 6 years

• CI has invested $675+ million in innovative startups since 1995
• CI's leveraging power is 10X, or $6.7 billion

CI invested $48.7 million in 81 companies and venture funds in the fiscal year ending June 30, 2024. CI's investments also attracted an additional $1.1 billion in outside capital into its portfolio companies. This fiscal year generated $35 million in cash proceeds through company exits, which includes acquisitions and IPOs, which will allow CI to invest in more early-stage companies in the future.

Our culture is vibrant, diverse, collaborative, and inclusive. We embrace perspective and have mission alignment on our impact to Connecticut's innovation ecosystem. We host or participate in over 20 ecosystem events per year, and our headquarters at The District in New Haven is a catalyst for partnership and an innovation ecosystem community hub.

Venture Debt Fund

Our Venture Debt Fund helps early-stage and later-stage businesses obtain venture or mezzanine debt for capital expenditures and working capital. Funding amounts range from $150,000 to $2 million. The interest rate will typically be fixed between 6 and 12 percent for the life of the debt. Warrants are part of the overall pricing and range from 5 to 25 percent of the loan amount. The debt’s maturity usually extends from three to five years. Collateral will include a priority lien, or, occasionally, a subordinated lien on the borrower’s assets.

We seek technology-based companies based in Connecticut or willing to move here. We look for innovators in our core areas of expertise: bioscience, IT, clean tech, photonics and advanced materials.

Venture Debt Fund Internship

An internship with CI is an exciting opportunity to gain valuable venture capital experience in a small team, innovative work environment. You will work collaboratively on lead generation activities tied to new investment opportunities, due diligence activities on companies considered for investment by CI, and portfolio management activities for current investments. There might be opportunities to participate in continuous improvement projects and programs tied to a more scalable and sophisticated venture team infrastructure that supports venture team activities.

We are seeking MBA students with a strong interest in the intersection between venture capital and diversity, equity and inclusion (DEI). Preference will be given to candidates demonstrating curriculum, research and/or practical experience in DEI initiatives and enrolled in a Connecticut College or University or a resident of Connecticut.

Responsibilities may include:

• Data collection and analysis of portfolio activity
• Cash flow modeling for individual projects, programs, or investments
• Research and document preparation for external and internal stakeholder meetings
• Sourcing potential investments though online research and in person visits
• Assistance with initial assessments of applicant's business plans in relation to CI investment criteria
• Assistance with regard to "due diligence" activities to obtain and analyze pertinent information relative to the applicant's management, market, technology, products, competitors, financial history and projections, and business strategy and plan
• Assistance in preparing analyses and presentations to the CI Investment Committee
• Assistance with investment monitoring activities such as financial analysis, market research, etc.
• Participation in lead generation, business development activities

Skills & Competencies

• High personal passion for a fast-developing innovation ecosystem
• Detailed, action-oriented person who takes initiative to follow-up on items
• Project management and organization skills to solicit and follow up on meetings
• Communicate comfortably with a wide range of stakeholders
• Ability to synthesize data into a compelling story
• A seeker and learner mentality and someone that likes to laugh

Connecticut Innovations is an equal opportunity/affirmative action employer. We welcome all candidates to apply regardless of race, color, religion, sex (including pregnancy, sexual orientation, or gender identity), national origin, age, disability, or genetic information.