Crunchbase News recently posted this article that talks about the explosive growth in venture capital in the State of Ohio. Through mid-November, Buckeye State-based companies had raised more than $2.2 billion in venture funding across all stages, more than double the sum raised in all of 2020, and marks the highest statewide funding total to date.
The Chief Executive Officer of JumpStart, a Cleveland-based venture development organization that supports and invests in start-ups, cited several factors:
- A few recent Ohio founder success stories;
- A larger pool of local capital; and
- The shift away from in-person meetings amid the pandemic also helped local companies woo out-of-state investors.
The article notes that Columbus has seen the highest gains, attributed to the city being home to The Ohio State University, the flagship of the state university system, and a local talent base in insurtech and fintech, two hot areas for start-up investment.