Cintrifuse Announces New Managing Director of $115M Syndicate Fund
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CINCINNATI, Feb. 9, 2021 /PRNewswire/ -- Cintrifuse welcomed Oleg Kaganovich as Managing Director of its Fund that invests in early-stage venture capital firms and extraordinary founders to build the next generation of disruptive Midwestern companies. Kaganovich brings a mix of experience and perspectives to the role, including previous work as a venture capital investor in the U.S., Asia and Saudi Arabia, startup founder and operator, and corporate development professional. Kaganovich will lead the nationwide launch of Cintrifuse's third fund, in addition to the ongoing management of Funds I and II.
"I'm thrilled to be joining a stellar fund team within the Greater Cincinnati innovation ecosystem," said Kaganovich. "We are at the beginning of another startup revolution, where both early and growth-stage companies have the mobility and tools to effectively build their businesses outside of Silicon Valley, New York, or Boston. Add to this a large and growing talent pool, the capital efficiency of a lower-cost geography, and the backing of major local corporations, and you have a catalyst propelling the growth of new tech hubs in historically undercapitalized regions. The future is here."
In addition to building startup ecosystems both in the U.S. and abroad, Kaganovich played a leadership role driving the direction and growth of Greater Sacramento's innovation economy.
"With Oleg's leadership, we expect to increase the investment and engagement of VCs and Founders across the nation to support Cincinnati's startups, bring more startups to our region, and invest more directly in Cincinnati's thriving startup community, while continuing to deliver the strong financial performance that has long been at the heart of the Fund's success," said Cintrifuse CEO Pete Blackshaw.
The Cintrifuse Syndicate Fund consists of two individual, jointly managed funds that operate as a Fund of Funds, targeting U.S.-based venture funds that are active in the Midwest or expect to allocate capital, time, or expertise within Greater Cincinnati and the Southern Ohio region in the future. The Fund has raised over $115 million in AUM across two funds, drawing from some of the largest corporations in Ohio, including Western & Southern, Procter & Gamble, Kroger, Smucker's, Scripps, Cincinnati Children's Hospital, Mercy Bon Secours, and Cincinnati Bell.
Fund III will focus on areas where Cincinnati has a growing concentration of talent, technology, and capital, including Sustainability, Supply Chain and Logistics, and FinTech. It will also provide support for women- and minority-led ventures and direct investments in Greater Cincinnati startups.
"We are thrilled to welcome Oleg to Greater Cincinnati," said Maribeth Rahe, President and CEO of Fort Washington Investment Advisors and co-chair of the search committee that selected Kaganovich. "He is a strong leader with an exceptional track record who understands how to drive innovation."
About The Cintrifuse Syndicate FundBacked by leading Ohio corporations, the $115 million AUM strategic Cintrifuse Syndicate Fund targets venture funds that actively invest in early-stage Midwestern technology companies based in undercapitalized geographies across Southern Ohio.
Fund objectives include:
- Addressing the capital gap faced by early and growth-stage founders in Southern Ohio
- Maximizing both strong financial and strategic returns by partnering with leading venture capital funds with a geographic focus and enthusiasm for investing in the Midwest
- Targeting disruptive early-stage companies, innovators and venture funds for fast-tracked R&D, distribution, customer and other strategic relationship development with leading regional corporations.
Fund investments include Greycroft, Revolution Ventures, Lerer Hippeau, Madrona Venture Group, Maveron, Upfront Ventures, Mercury Fund, Pelion Venture Partners, River Cities Capital, Allos Ventures, Material Science, and Cincinnati-based River Cities Capital and Refinery Ventures. Recent investments also include venture studios Atomic and Science.
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