PROVIDENCE – State-backed venture capital fund Slater Technology Fund said its portfolio companies raised $28.2 million in new financing during the calendar year ended Dec. 31.
NABsys, Andera, Cardiorobotics, Dynadec, ProThera Biologics, Alektrona, CytoSolv and Mofuse primarily raised equity financing and, to a lesser degree, federal and state grant funding, Slater Tech said in a news release on Tuesday.
“The success of portfolio companies attracting additional capital this past year is extremely encouraging,” said Richard G. Horan, senior managing director of the Slater Technology Fund.
The $28.2 million does not include the $3.9 million Slater Tech has invested in these portfolio companies through Dec. 31.
“While the investments in these companies by Slater date back, in many cases, to prior fiscal years, it nonetheless demonstrates well how catalytic investment, even in modest amount, can lead to substantially greater capital being raised. This in turn accelerates the creation of high-value, high-wage jobs, which is the ultimate goal of the strategy we are pursuing,” said Horan.
