JumpStart “more than doubled” its original $27M Evergreen Fund

Through JumpStart’s original Evergreen Fund, the nonprofit organization invested in 76 startups; thanks to its success with those investments, the group will be able to continue investing in local tech startups “for the foreseeable future,” Crain’s Cleveland reports. JumpStart “has more than doubled” the initial $27 million put into the first version of its Evergreen fund, and has formed “a second version of the Evergreen Fund a few years ago with capital from the Ohio Third Frontier economic development program and philanthropic groups.” The success of the first Evergreen Fund “is helping it fund new programs targeting entrepreneurs,” CEO Ray Leach said, such as support for Growth Opportunity Partners, “a separate nonprofit that makes loans to small local businesses” and the Plug and Play Cleveland health tech startup accelerator. For more, read the full article.

Economic Development, State Updates