CIT GAP Funds Portfolio Companies
CIT's GAP Fund was established to meet the early stage capital demands challenging the Commonwealth's most promising science and technology-based start-ups whose funding requirements could not be met by traditional financing means.
GAP Fund investments are governed by the goal of developing the next generation of Virginia's science and technology economy and the entrepreneurial ecosystem required to support that economy.
To this end, the GAP Fund places equity and convertible debt investments in tech, clean-tech and life science companies at the earliest stages of company formation, in a manner conducive to stimulating significant private investment or "leverage cash" as a result of CIT's deployment of public dollars.
Since inception, CIT GAP Funds has invested $17.9M, leveraging 331M in angel and venture dollars. In FY15 CIT GAP Funds invested $3.6M and leveraged $93M in angel and venture dollars. 215 jobs were created or preserved by companies invested in by CIT in FY15.
Initial Investment Amount: