Summary
Covington, Kentucky — A notable investment firm has identified significant potential for growth in the technology sector of Northern Kentucky, drawing parallels to Silicon Valley. eGateway Capital, dedicated to the advancement of digital commerce, has successfully secured over $100 million in fresh funding aimed at fostering local tech companies within the region. In August, eGateway Capital concluded its most substantial fundraising round to date, acquiring $94 million to invest in growth-stage technology firms that are innovating the digitization of commerce and supply chains. To date, the firm has amassed a total of $120 million through two separate funds. According to Madeline McIntyre, the head of Investor Relations, the firm’s headquarters in Covington is strategically placed. She noted, “While replicating Silicon Valley’s early-stage dynamics is challenging in the Midwest, we believe our locale provides unparalleled advantages for scaling technology companies.” The firm’s investment strategy revolves around four key areas: production processes, marketing strategies, sales mechanisms, and distribution networks. Ms. McIntyre emphasized the importance of connecting tech innovators with established corporations in the area, such as Kroger, Procter and Gamble, and the Cincinnati/Northern Kentucky International Airport. “By being able to approach major corporations promptly with technology solutions, we streamline the process for new ventures,” she stated. Several of the companies receiving investment support will be located at Sparkhaus in Covington, which is designed to serve as a central innovation hub. Currently, eGateway Capital has invested in three companies from its first fund and nine from its second fund, with plans to further invest in an additional five to ten companies before the conclusion of the investment period. The firm’s portfolio, encompassing twelve investments across its four targeted pillars, includes notable companies such as 80 Acres, VIZIT, Firework, and Vidmob in the manufacturing, marketing, sales, and distribution sectors, respectively. Chad Summe, managing partner of eGateway Capital, expressed his gratitude for the overwhelming trust placed in the firm by various regional leaders and strategic investors, stating, “The impact of our investor community is immeasurable, and we remain committed to exceeding their expectations.” Mike Veith, a founding partner, also shared his enthusiasm for collaborating with investors and portfolio companies, remarking, “Completing this fundraising during a historically challenging period for new private capital firms is an honor, and we are eager to fulfill our promise of delivering exceptional returns while diligently serving our portfolio entities.”
Original Source: spectrumnews1.com
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