Stages:

• Seed

 

Industries:

Information Technology

 

Description:

The QCA First Funds are a family of small investment funds established in 2003 to help fledgling companies reach important milestones in their development and attract additional investment from conventional sources. The funds were enabled by a matching investment from the State of Ohio's Third Frontier Action Fund. Members of the Queen City Angels, with support from the Tri-State Growth Capital Fund, provide management and oversight of the Fund, as well as mentoring and guidance to the portfolio companies. QCA First Fund II, established in 2006, has completed its activities. QCA First Fund III, created in 2009, is somewhat larger and has received matching investment from the Ohio Capital Fund in addition to the others mentioned above. The typical initial investments are in the $100,000-$300,000 range. Companies chosen for investment must meet the following criteria: must have its primary place of business in Ohio, or intend to move to Ohio upon funding; and technology must be a primary driving force for the company's business. In late 2013, QCA began making investments from its largest fund to date. QCA First Fund IV will continue the work of the previous Funds to help start-up companies meet their initial growth objectives and attract additional investment.