Summary
Covington, Kentucky – A prominent growth equity firm has recently expressed enthusiasm regarding the technological potential in Northern Kentucky, likening it to the innovations historically seen in Silicon Valley. eGateway Capital has announced an investment exceeding $100 million aimed at bolstering local tech enterprises in the region. In August, the firm completed its most significant fundraising initiative to date, amassing $94 million dedicated to investing in growth-stage technology companies that are focused on the digitization of commerce and supply chain processes. To date, eGateway Capital has successfully raised a total of $120 million through two fundraising cycles. Madeline McIntyre, the head of Investor Relations, emphasized the strategic decision to establish the firm’s headquarters in Covington, stating, “What is occurring in Silicon Valley from an early-stage perspective is somewhat challenging to replicate here in the central United States. Our belief is that while incubation is essential, this region offers one of the optimal environments in the world for scaling established companies.” The investment strategy of eGateway Capital centers around four critical pillars: the manufacturing processes of products, marketing strategies, sales methodologies, and distribution systems. Ms. McIntyre noted that by investing in these areas, the firm aims to connect emerging technology companies with prominent local corporations, including Kroger, Procter & Gamble, and the Cincinnati/Northern Kentucky International Airport. “The ability to introduce a technology solution provider to a major corporation as early as Day Two can be transformative,” she articulated. Notably, several of the companies receiving investment will be located at Sparkhaus in Covington, which Ms. McIntyre described as a key innovation hub. To date, eGateway Capital has invested in three companies from Fund I and nine from Fund II, with plans to invest in an additional five to ten companies throughout the current investment phase. The firm’s portfolio encompasses twelve strategic investments across its four pillars: 80 Acres represents the “How Things Are Made” category; VIZIT, Firework, and Vidmob fall under “How Things Are Marketed”; Flip.shop, SamCart, and AUI.AI are part of “How Things Are Sold”; and Flowspace, Cargomatic, Overhaul, NOK Recommerce, and OneRail comprise the “How Things are Distributed” category. Chad Summe, Managing Partner of eGateway Capital, articulated, “We express our profound gratitude for the trust placed in our mission and efforts by numerous regional leaders and strategic investors. The influence of our investor community is immeasurable, and we are committed to surpassing their expectations.” Moreover, Mike Veith, a founding partner of eGateway Capital, conveyed his appreciation, stating, “It has been a privilege to collaborate with our investors and portfolio companies thus far. We are excited to have concluded our fundraising efforts in a period that presents significant challenges for new private capital firms. We eagerly anticipate delivering exceptional returns to our investors while consistently supporting our portfolio companies.” In conclusion, eGateway Capital’s strategic investment in Northern Kentucky aligns with the firm’s mission to cultivate and scale technology companies in a region increasingly recognized for its growth potential within the digital commerce landscape.
Original Source: spectrumnews1.com
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