 Richmond, VA, March 11, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Richmond, Va.-based RoundlyX, a digital asset wealth management platform. Since its initial GAP Funds investment in May 2020, RoundlyX has expanded its service beyond the United States, with users now able to connect to any European or UK bank and round up their spare change into digital assets. The fintech startup plans to use this latest investment to support its continued user growth, which is now accelerating in response to the increased popularity in Bitcoin and other digital assets.  We are so excited to share with you that Kamana has officially joined forces with one of the nation’s leading healthcare staffing agencies, Triage Staffing.  A Richmond-based startup company that operates an online platform to help counsel parents of children with autism has raised $1.8 million to expand its services. AnswersNow, which was founded in 2017, announced Tuesday that it had completed the seed funding round led by the American Family Insurance Institute for Corporate and Social Impact and Virginia’s Center for Innovative Technology.  AnswersNow recently closed a Seed Round of $1.8M lead by American Family Insurance Institute for Corporate and Social Impact and CIT with participation from Kapor Capital, Trolley Ventures, and K-Street Capital. Funds from the round are being used to fuel expansion plans, hire world class clinical talent to guide the efficacy of the services being delivered and guide marketing strategy to raise awareness of AnswersNow virtual ABA services.  A family of funds managed by the Center for Innovative Technology has invested about $1.8 million into Richmond-area startups in recent years. Through partnerships with Richmond-area groups like Lighthouse Labs, Trolley Ventures, 1717 Innovation Center, Virginia Commonwealth University and Startup Virginia, CIT GAP Funds is “actively cultivating a growing pipeline,” said Managing Director Tom Weithman.  Named Virginia’s most active investor by CB Insights for the past six years, CIT GAP Funds’ investments have helped create more than 6,500 new jobs in the Commonwealth in the last 15 years, it reported this month... By Michelai Graham / STAFF
Investments have supported the creation of nearly 6,500 jobs throughout the Commonwealth Richmond, Va. – Jan. 13, 2021 – The Center for Innovative Technology (CIT) today released the 2020 CIT GAP Funds Impact Report, detailing both return on investment and socio-economic impact achieved since the fund’s inception in 2005. A family of funds placing equity investments in Virginia’s high-growth based technology, life science, and cleantech companies at the earliest developmental stages, CIT GAP Funds has deployed $32.4 million in capital across 240 portfolio companies.  Investment program spanning the Commonwealth continues to drive critical technology sectors during unprecedented times Richmond, VA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) announced today that CIT GAP Funds has again been named Virginia’s most active investor by CB Insights, a developer of a tech market intelligence platform that analyzes millions of data points on venture capital, startups, patents, partnerships, and news mentions to predict future technology trends. For the sixth year in a row, CIT GAP Funds joins an impressive list of VCs in the U.S. “CIT’s sustained commitment to investing at the earliest stages of company development positions CIT GAP Funds as a fundamental building block of the Commonwealth’s startup ecosystem,” said Virginia Secretary of Commerce and Trade Brian Ball. “Even in these trying times, CIT’s investment outcomes are a fitting tribute to Virginia’s entrepreneurial vitality, community spirit, and economic and social diversity.”  These VC firms span the D.C., Northern Virginia and Baltimore areas. Whether you're seeking seed funding or raising a Series B, there's probably something here to propel your business. (CIT GAP Funds listed)  CIT GAP Funds Investment Director Alex Euler participated as a panelist in UpRiver 2020 | "UpRiver is an annual fall event hosted by Activation Capital that brings together founders and entrepreneurs throughout the Richmond region. Sara Maddox, Activation Capital's outreach and community affairs manager, said the pandemic was front and center as they decided on programming for this year's event..." "Everyone is going through tough times, and founders are going through tough times, as well," she said. "A lot of them are having to reimagine or pivot what their company needs to do to stay viable through the pandemic. We tried to have our panels focused on that."  Startup Spotlight: RoundlyX, which enables investments in digital assets, plans growth with CIT investment | “You don’t need to be a cryptocurrency expert to invest responsibly, and dollar cost averaging is a proven, responsible strategy to build a digital asset portfolio,” said Alex Euler, investment director at CIT GAP Funds. “RoundlyX has an experienced, innovative leadership team with a strong vision to build a global, full spectrum digital asset financial services platform.” Elliott said the investment by CIT, which supports early stage companies in Virginia, shows there is a future in digital assets.  Automated micro deposits round up purchases to the next dollar to buy, secure and store digital assets on a user’s chosen exchange | The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Richmond, Va.-based RoundlyX, a digital asset wealth management platform.  Ranked by Deals closed in 2019 Locally Researched by: Carolyn M. Proctor, Washington Business Journal Apr 24, 2020, 6:00am EDT |
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Updated 4/19/2021