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A n n u A l R e p o R t ◊ 2 0 1 4 – 2 0 1 5

1311 Vine StreetSuite 300Cincinnati, OH 45202513.263.2720w w w . c i n c y t e c h u s A . c o m

©2015 CincyTech 10.15 | TG | 1,000 | SS

New Office ◊

companies receiving cincytech technical assistance:

323

Jobs created by cincytech portfolio companies:

760companies receiving

cincytech investment:

59

Average salary at a cincytech portfolio company:

$76,129

total invested in cincytech companies by private sources:

$474M

leverage ratio of private dollars to cincytech dollars:

18.6:1

total cincytech investment in portfolio companies:

$25.5M

total company investment & revenue:

$689.5M

Portfolio Co- & Follow-On Cumulative Avg. Investment Year Companies Jobs Investment Investment Per Company

2007 4 31.0 $3.97M $3.97M $0.99M 2008 7 73.0 $14.83M $18.80M $2.12M 2009 12 78.0 $24.51M $43.31M $2.04M 2010 17 120.5 $18.17M $61.48M $1.07M 2011 32 207.5 $44.75M $106.23M $1.40M 2012 42 367.5 $64.38M $170.60M $1.53M 2013 49 534.0 $92.52M $263.12M $5.37M 2014 53 616.6 $227.79M $490.91M $9.26M 2015 59 760.0* $34.00M $506.98M $8.59M *Through Q2 2015

All data on this page (except 2015 Jobs as noted above) through 10/22/2015.

Venture Capital Funds $221,622,541 Initial Public Offerings $106,907,220 Revenue $156,989,836 Individuals $109,958,364 Funds I, II & III $22,227,827 Private Loans $33,000,000 Ohio Loans & Grants $8,930,927 3rd Frontier Seed Funds $12,646,266 Corporate $1,524,999 Federal grants $6,954,639 Foundation Investments $942,260 TOTAl $689,502,995

i n v e s t m e n t s c o R e c A R d F u n d i n g & R e v e n u e

Cumulative totals from May 2007–October 2015.

i m p A c t h i g h l i g h t s

2 | c i n c y t e c h A n n u A l R e p o R t ◊ 2 0 1 4 – 2 0 1 5 | 3

s i m p l y p u t , CincyTech was founded on a belief that bright entrepreneurs and great ideas exist in southwest Ohio, and should be nurtured and grown here.

CincyTech was built around a thesis that the region is fertile with promising software and bioscience opportunities, that

coastal venture investors (at the time) largely overlooked these opportunities, and that the resulting scarcity of capital would create attractive terms for investors. Then, with a combination of seed capital, management assistance and connections, CincyTech would help entrepreneurs transform ideas into high potential technology companies.

In the years since our first investment in 2007, CincyTech has become one of the most active seed funds in the Midwest, advising 323 companies, investing in 59, 38 of which are still active, and 17 of which are either backed by institutional venture capital funds or have exited. These companies have raised co- and follow-on investment totaling $506.9M while generating cumulative revenue of $156.9M. They employed 760 people at an average wage of $76,129 as of June 30, 2015.

It is also significant that 21% of our portfolio companies are either founded or led by women or minorities. Nationally, less than 6% of venture-backed companies are founded by women and only one percent led by African Americans.

Notable portfolio company highlights in 2015 include:

◊ For the second year in a row, CincyTech portfolio companies won three of four financing of the year awards from Venture Ohio, a statewide trade association: Airway Therapeutics, Seed Stage Financing; Ahalogy, Early Stage Financing; and Assurex, Growth Stage Financing.

◊ LISNR was named to the 2015 CNBC Disruptor 50, a list of companies from around the world whose innovations are revolutionizing the business landscape. Also on the list: startups including Uber and Airbnb.

◊ Ahalogy, a Pinterest marketing company, was named as one of only ten Pinterest Marketing Developer Partners for Content Publishing. As an official Marketing Developer Partner, Ahalogy can access to the Pinterest API to further enhance its unique marketing and technology solution.

◊ Enable Injections moved from a small office in Franklin to a 41,000 square foot building in Sharonville. The facility will house the company’s offices and space for research and product development. It will also house Enable Injections’ manufacturing and distribution operations.

◊ Frameri appeared on ABC’s Shark Tank (and turned down a deal!)

◊ Assurex Health, the precision medicine company helping to put people on a faster path to the right medication and mental wellness, has now tested 200,000 people with its GeneSight® technology. It now processes more tests in a day than in its entire first year.

Our portfolio companies continue to enjoy the financial and management support of our network of more than 80 individuals who have invested over $100 million since 2007. More than 50 venture capital funds from across the country have invested $221M alongside these investors.

Finally, our work would not be possible without the generous support of corporations, foundations and local governments across our region. We are grateful for the ongoing support.

The entrepreneur’s journey can be many things: adventurous, sometimes inspiring, often unsettling, always unpredictable. CincyTech’s mission is to be a trusted partner, helping founders navigate their path, and making sure the best ideas don’t go unnoticed by the investors who can help them to grow right here.

i b e l i e v e i n w h A t c i n c y t e c h d o e s . i b e l i e v e g R e A t c o m p A n i e s A R e g o i n g t o b e F o u n d e d h e R e .

— C h r i s M C L e n n a n , p o r t f o L i o C o M pa n y f o u n d e r t u r n e d i n v e s to r ( p g . 1 2 )

Results & message from cincytech’s leadership

Chairman, Board of Managers President and CEO

Above: Robert Coy, President and CEO

of CincyTech and James Anderson,

CincyTech Board of Managers Chairman

and Former President and

CEO of Cincinnati Children’s Hospital

Medical Center

the cincytech

teamClockwise from bottom left: John Rice, Director, Life Sciences;

Robert Beech, Entrepreneur in Residence, Biosciences; Samuel Frith, Analyst; Justin Thompson, Principal;

Sean Kwiat, Analyst; Peg Rusconi, Director, Communications; Doug Groh, Director; Robert Coy, President & CEO;

Toya Gatewood, Program Director; Mike Venerable, Managing Director.

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cincytech team partners with six new investments

c h R y s A l i s is developing mobile technology products and a platform that makes it easier to connect on the go.

CincyTech portfolio companies won three of the four VentureOhio Financing of the Year awards.

Airway Therapeutics, Seed Stage Financing; Ahalogy, Early Stage Financing; and Assurex, Growth Stage Financing.

VentureOhioADVANCING OHIO ENTREPRENEURSHIP

Airway Therapeutics CEO Marc Salzberg and Chief Science Officer Jan Rosenbaum

Ahalogy CEO Bob Gilbreath Assurex Health CEO Virginia “Gina” Drosos

six new investments

h i R e w h e e l certifies work experiences for local home improvement professionals so homeowners don’t have to, offering confi- dence in a world of questionable reviews.

i n c l u d e F i t n e s s is a next generation fitness and rehabilitation platform accessible to ALL users regardless of ability or mobility.

l o t e d A is a marketplace that saves busy parents time and money by allowing them to buy and sell gently worn children’s clothing by the lot. A season’s worth of clothing in a single listing and transaction.

s t R A p is a wearable software and analytics platform for developers, enterprises and brands.

s t R e A m s p o t provides everything needed to deliver high quality live and on-demand broadcasts to any Internet connected device; it’s a simple streaming solution for churches, synagogues and live events.

v e n t u R e o h i o F i n A n c i n g A w A R d w i n n e R s

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portfolio profile:Zipscene

“ w h e R e s h o u l d i g o F o R l u n c h ? ”

It’s a simple enough question, one that pops up millions of times daily in the US as midday hunger kicks in. The answer can depend on any number of factors, such as weather, proximity, time, price, cravings, and company. The ability to understand those data points to influence the diner’s decision is a quest for restaurants everywhere, particularly

as Americans spend nearly half of their food dollars outside the home. It’s also what drives and distinguishes Zipscene in the world of restaurant marketing intelligence.

“We’re positioning ourselves as a dining data cloud, with the deepest understanding of consumer dining behavior, down to the SKU level,” said Sameer Mungur, founder and CEO of Zipscene, where the client list includes more than 60 national restaurant chains. “We’re building the largest data asset for this particular industry.”

Since its inception in 2006, Zipscene has connected people with dining establishments. The company morphed from a web portal that aggregated local dining and entertainment information, to a website builder for restaurants. When diners began to migrate from restaurant websites to apps, Zipscene again changed course, building branded mobile apps for restaurants, through which customers could order and pay. This integration with point-of-sale payment systems was a game changer.

“When you walk out of a restaurant with a receipt, all the data on the receipt comes to us. The amount of data started scaling very rapidly,” said Mungur. “The eye opener was, we are sitting on a data asset that a lot of people would want because it does two things: one, it gives them a much deeper understanding of who they’re catering to; and two, it gives them a strategy to reach those people.”

Zipscene is building its dining cloud from a massive amount of data—a base of 250 million U.S. consumers in its system. In 12 months, by overlaying and connecting different data sets, Zipscene has created profiles of 25 million of those consumers, down to a check level of detail.

All identifying information is removed from the profiles, but Mungur said the anonymized, aggregated data helps marketers target and reach ideal customers with much greater precision.

“For example we’ll tell you 20 restaurants in 45202 saw an increase in X on these products and generally the people buying them had a demographic of X, Y and Z.

We can group people who eat alike or drink alike into these audiences. Broadly, anyone marketing a food product or a beverage product—restaurants, retailers, manufacturers—should care about the data that we have.”

So, Mungur added, should payment technology providers to the restaurant industry, because Zipscene’s technology could enable them to provide insights to merchants about what’s driving sales and what kinds of customers are coming in.

“We know how to manage data at scale and we’re very good at analytics.”

“Zipscene is succeeding because of its team’s vision and extraordinary perseverance,” said CincyTech managing director Mike Venerable. Zipscene was one of CincyTech’s first investments, in 2007. Later stage investors include Chicago-based Jump Capital.

Today, the Zipscene team is dozens strong, working out of loft-like downtown headquarters with soaring arched windows and a ping pong table. Mungur and his team have built a company culture that is industrious, agile, creative and fun.

“The most gratifying thing and what makes me get out of bed everyday and come in here is people,” said Mungur. “I see Zipscene as a place for young, intelligent, hungry people to experience a tremendous amount of growth.”

As has the company itself, on its journey from portal to platform, using data to decode dining behaviors and influence the dining decisions hungry consumers make every day.

Zipscene: decoding dining behavior

Zipscene’s founder and CEO, Sameer Mungur

t h e e y e o p e n e R w A s , w e A R e s i t t i n g o n A d A t A A s s e t t h A t A l o t o F p e o p l e w o u l d w A n t .

— s a M e e r M u n g u r , Z i p s C e n e f o u n d e r & C e o

lisnR: making waves with silent tones

LISNR co-founder and CEO Rodney Williams; Lead DSP Engineer William Knauer; and co-founder and Lead Engineer Josh Glick. Inset: Williams’ live appearance on CNBC to discuss LISNR’s ranking as #12 on the network’s Disruptor 50 list of innovators revolutionizing the business landscape.

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portfolio profile:lisnR

i n 2 0 1 5 , LISNR made a lot of noise with audio tones you can’t hear, accumulating a long list of awards and accolades.

For starters, LISNR was named to the CNBC Disruptor 50, a list of companies “whose innovations are revolutionizing the business landscape… forward thinking upstarts that have identified unexploited niches in the marketplace.”

LISNR was ranked #12, just ahead of DocuSign and Survey Monkey, just behind Slack and Warby Parker.

LISNR is the creator of SmartTones, proprietary inaudible sound waves that can connect devices. Think of it as audio Bluetooth, except unlike Bluetooth, LISNR technology doesn’t require hardware or maintenance, requires very little CPU/battery use, and can synchronize with a device in less than an eighth of a second.

Because LISNR’s technology is silent, the company can leverage the network of sound and its existing hardware

that is everywhere around us. LISNR co-founder and CEO Rodney Williams describes it as the Internet of Sound.

“Anywhere there is a speaker or that has the ability to broadcast audio, LISNR has the ability to turn that object or media into a data-transmitting medium,” Williams said.

LISNR’s list of accomplishments in 2015 include:

◊ Winner, Gold Lion at the Cannes Lions International Festival for Creativity, for Innovation in Mobile

◊ Winner, SXSW Vision to Venture competition

◊ Winner, Digiday’s Best Content Marketing Platform

◊ Finalist, Fast Company’s Innovation by Design Award

LISNR was also chosen for Cisco’s Entrepreneurs-in-Residence program for Internet of Everything companies. The program will give LISNR co-working space in Silicon Valley and opportunities to work with Cisco product and engineer teams.

Finally, LISNR announced a $10 million Series B funding round led by Intel Capital, positioning the company to accelerate its growth in the IoT space.

Not bad for a company born three years ago on the SXSW StartupBus, as a way for recording artists to connect with their fans.

“We’re just starting to scratch the surface of how data- over-audio communication technology can be used,” Williams said.

“Sports teams and broadcasters are using our technology to connect with fans and deliver amazing second screen experiences; brands are connecting with customers in-store and online at the same time. There are countless applications still to be developed that will transform how each and every person connects to each other and the environment around them,” he added.

w e ’ R e J u s t s t A R t i n g t o s c R A t c h t h e s u R F A c e o F h o w d A t A - o v e R - A u d i o

c o m m u n i c A t i o n t e c h n o l o g y c A n b e u s e d . — r o d n e y W i L L i a M s , L i s n r C o - f o u n d e r & C e o

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portfolio profile:eccrine systems

eccrine systems:sweat equity

m o s t o F u s regard sweat as a nuisance, something to be toweled off or washed away.

But every drop of the sweat you mop from your brow on a sweltering day or during a workout is a window into what’s happening in your body at that moment. Just like blood, sweat is rich in biomarkers, chemicals that can reveal if a person is dehydrated, fatigued, ailing or exposed to environmental pollution.

The promise of sweat has remained unrealized for more than a half century. The challenge has been to capture it in a way that will yield accurate results in real time, while a person is engaged in daily activities.

Eccrine Systems is developing electronic patch systems worn discreetly like band-aids or as part of headgear—designed to collect and transmit real time data about human sweat.

“We’re trying to push far beyond what people think that wearable tech can be,” said Chief Science Officer Dr. Jason Heikenfeld. His innovative research and intellectual property, developed in the UC Novel Devices Lab and in concert with the Air Force Research Lab in Dayton, could finally harness the power of sweat as the best non-invasive fluid source for secure, real time monitoring of human performance.

CincyTech Entrepreneur in Residence Robert Beech, who co-founded the company with Heikenfeld, said the technology has broad application across multiple vertical markets.

Among them are athletic performance, industrial safety, military effectiveness, and many areas of medicine including medication adherence and treatment effectiveness.

“We’ve positioned ourselves to be in the high value, specialized markets of B2B (business-to-business) and B2G (business-to-government,” said Beech. “This is the hard science end of the wearables spectrum.”

Eccrine seeks commercialization partnerships across multiple vertical channels, a platform business model Beech helped deploy at Intrexon Corp., a company with Cincinnati origins that went public in 2013 (NYSE: XON).

Groundbreaking technology and a robust IP portfolio underpin Eccrine’s ability to establish those partnerships and develop high value applications.

Soon after closing a $2M seed round this year led by CincyTech, Eccrine announced Virginia-based sports technology firm CoreSyte as its exclusive worldwide athletics partner. Most recently, the Air Force Research Lab awarded Eccrine Systems an $860K multi-year prime contract focused on the R&D of advanced sweat sensor technologies and the non-invasive monitoring of the physiological status of mission personnel.

“The range of defense and security sweat applications is of high interest to the U.S. government and its allies. We are in the process of developing the desired capabilities,” noted Keith Grimes, Eccrine’s CEO and a former Navy SEAL.

w e ’ R e t R y i n g t o p u s h F A R b e y o n d w h A t p e o p l e t h i n k t h A t w e A R A b l e t e c h c A n b e .

— d r . J a s o n h e i k e n f e L d , e C C r i n e s y s t e M s ’ C h i e f s C i e n C e o f f i C e r

Eccrine Systems CEO Keith Grimes, Executive Chair Robert Beech, Chief Science Officer Dr. Jason Heikenfeld, CTO Gavi Begtrup

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personal insights: cincytech Attracts talent

b y t h e i R v e R y n A t u R e , innovators challenge status quo. They’re willing to choose a less comfortable path and to risk failure. Chris McLennan was building a nice life for his family and a successful career at one company when he decided to roll the dice on a startup.

“It’s got to be one of the most difficult things that you do,” said McLennan. “I thought, ‘I’m really going to quit my job to do this?’ And you realize if you fail you’re taking down a lot of people, not only your investors, but employees you’ve taken on, and not only your family but their families. There’s a lot of reasons to not do it.”

McLennan was working as a software engineer when he conceived a way for product life cycle management teams, working with massive

[ c i n c y t e c h n o t o n l y ] s u p p o R t s y o u w i t h t h e i R m o n e y , b u t [ A l s o ] w i t h t h e i R t i m e , t h e i R

c o n n e c t i o n s , b e i n g o n y o u R b o A R d , A n d b e i n g t h A t R e s o u R c e t h A t h e l p s y o u s u c c e e d .

— C h r i s M C L e n n a n , i L e s f a y f o u n d e r , C i n C y t e C h i n v e s t o r

once a Founder, now an investor

amounts of data in multiple sites across the globe, to transfer that data in a simple, cost effective way.

McLennan and two partners founded Ilesfay (pig-Latin for “files”) in 2009. His technology could detect the changes in each iteration of a design or engineering project, and then allow collaborators to transfer only those changes, instead of the entire project involving terabytes of data. Data transfers requiring monthly six figure fiber optic bills could now be delivered over standard business Internet.

Ilesfay landed client P&G, then CincyTech as an investor in August 2011.

“I had not done this before, had never run a company before,” recalled McLennan. “CincyTech believed in me and more than the money, led our round and were that kind of force that would stand up and say this is the value of the company. The other thing is, there is a lot of intangible moral support. Not only are they supporting you with their money but they’re supporting you with their time, their connections, being on your board, and just being that resource that helps you succeed.”

Two and a half years and three patents later, Ilesfay was acquired by Autodesk, generating a positive return for founders and investors, and putting McLennan’s tech into millions of computers, with the potential for far reaching impact.

“If you go over to Africa they don’t have very fast Internet circuits. So if it means less data has to travel so they can share a design for a new school building for girls, or plans for cleaner water, it’s just making the world a better place.”

Having sold his company, McLennan’s journey has brought him back to CincyTech—this time as an investor who wants to pay it forward.

“I believe in what CincyTech does. It’s a good investment, a good way to create wealth, and it’s one way for me to stay involved and help the

next level of guys and gals who are building businesses. I believe great companies are going to be founded here and I’m going to be involved, as an investor and a mentor.”

Chris McLennan’s story is an example of the growth regional seed investment enables. His success will help future startups sprout.

d R . J e A n n i e J o u g h i n was an executive at one of the largest pharmaceutical companies in the world when she first encountered medical device startup Enable Injections. As Vice President of Business Development at CSL Behring, Joughin investigated and identified products that might improve the patient experience.

Enable Injections develops and manufactures a new class of injector. Roughly the size of an Oreo, the Enable device adheres to a person’s skin, and may soon allow patients to comfortably and conveniently self-administer large volume drugs at home or work instead of having to endure time consuming treatments in a hospital or clinical setting.

“I became very passionate about the technology when I saw how CSL Behring patient groups reacted to being shown the device. Everyone wanted to be a trial participant,” said Joughin.

Joughin worked closely with Enable Injections founder and CEO Mike Hooven to broker a long-term collaboration agreement in October 2014. Impressed by the technology and the Enable team, she left big pharma

less than a year later to become Vice President of Corporate Development at Enable Injections. It was a coup for the startup.

“Bringing a pharmaceutical business executive of Jeannie’s high caliber on board significantly improves our ability to communicate and establish relationships with our existing pharma partners and other major pharma and biotech businesses,” said Hooven.

Joughin said she is embracing the change of pace.

“Being in a very large company can be slow and bureaucratic,” she explained. “Whereas here we can make decisions, we can move on them, if we find it works, we can keep going, if we find it doesn’t, we can take a different tack, and I really like that dynamic.”

Joughin joins a growing list of experienced corporate and industry talent who have taken leadership positions at CincyTech portfolio companies. Among them: Assurex Health CEO Virginia “Gina” Drosos, formerly president of global beauty care at P&G; and LISNR President Eric Allen, formerly a senior VP at Gracenote.

The recruitment of Joughin, an Australian who was based in Philadelphia, is also a testament to the Queen City’s newfound appeal.

Said Joughin, “I love the downtown area and vibrancy along the river, and the ability to walk to OTR and visit new restaurants there. We especially appreciate the fact that there is a booming coffee culture here.”

b R i n g i n g A n e x e c u t i v e o F J e A n n i e ’ s c A l i b e R o n b o A R d i m p R o v e s o u R A b i l i t y t o e s t A b l i s h R e l A t i o n s h i p s w i t h

e x i s t i n g p h A R m A p A R t n e R s A n d o t h e R p h A R m A A n d b i o t e c h b u s i n e s s e s . — M i k e h o o v e n , e n a b L e i n J e C t i o n s f o u n d e r & C e o

bigco talent Joins portfolio teams

cincytech’s portfolio: 12 months of milestones

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s t A c k c o n s t R u c t i o n t e c h n o l o g i e s launched STACK-To-Go, used by contractors to estimate $11.9B worth of building projects in one month.

e c c R i n e s y s t e m s raised $2M in seed stage financing and landed an $860K R&D contract with the U.S. Air Force for non-invasive, real-time sensing of sweat biomarkers.

s t R e A m s p o t, founded by Laura and Brian Duerring, became a preferred publisher on Vimeo, and streams live events and services for customers in 50 states and 10 countries. Photo courtesy: 805 creative and OCEAN

s t R A p, under COO Patrick Henshaw and CEO Steve Caldwell (above), raised $1.25M seed funding, won a pilot with Mondelez’s Trident gum brand, and was accepted to the Wearable World Labs Accelerator.

c h o R e m o n s t e R partnered with Disney Pixar to promote the hit movie “Inside Out.” Pictured are co-founders Chris Bergman and Paul Armstrong.

c o n n x u s , led by CEO Rod Robinson (left), raised $2.5M in venture financing.

e n A b l e i n J e c t i o n s , led by CEO Mike Hooven (above), completed its first-in-human pilot trial of its wearable injector, and moved from a small office space to a 41,000 square foot building.

A e R p i o announced positive results of Phase 2a Study of AKKB-9778 in Diabetic Macular Edema.

Z i p s c e n e launched the first and largest data management platform geared to restaurants.

k A p t u R e , led by founders Matthew Dooley and Mike Sarow, went to market with its stylish audio recording wristband and sold out of the first batch.

A h A l o g y was named an official Pinterest Marketing Developer Partner, allowing special access to the Pinterest API to accelerate brands’ learning and results on Pinterest. Ahalogy announced $8M in funding including debt financing and new investment.

A s s u R e x h e A l t h —under James S. Burns, Executive Chair; Virginia “Gina” Drosos, CEO; and Don Wright, Executive VP & COO—reports its patented GeneSight® test has been used to help guide more than 200,000 people to a path to mental wellness. The 100,000 patient milestone was only just reached in August 2014.

F R A m e R i turned down a deal on ABC’s Shark Tank, opened a retail showroom and partnered with En Chroma, a maker of lenses that enable people with red-green color blindness to see color.

one portfolio: 12 milestone months

AthenianVenture Funds

Numoda CapitalInnovations

Arsenal Venture Partners

Novo A/S

Draper TriangleNorth Coast

Drive Capital

ConneticVentures

Detroit Venture Partners

General Motors Ventures

Ludlow VenturesHyde Park Venture Partners

Jump Capital

Origin Ventures

Portage Venture Partners

Sigvion Capital

NovartisBioventures

ProgressVentures

TriadInvestments

Venture InvestorsEarly Stage

Serra Capital

Northwater IntellectualProperty Fund

jVenCapitalAllos Ventures

American Financial Group

Fort Washington Capital Partners

Tomorrow Fund

Triathlon Medical Ventures

Tri State Growth Capital Fund

Vine Street Ventures

Alafi Capital Company

Claremont Creek Ventures

Draper Fisher Jurvetson

Four Rivers Ventures

Healthcare Venture Capital

Intel Capital

Kearny Venture Partners

Sequoia Capital

Thomas Weisel Healthcare Ventures

Danmar Capital

Mercury Fund

Cross Creek Advisors

Techstars Ventures

Braemar EnergyJalia VenturesMitsui & Co.

OrbimedSerious ChangeSTAR Angel

DENMARK

cincytech’s venture investors

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Since 2007, CincyTech’s portfolio companies have raised a total of $506.9 million in private investment dollars. This is in addition to CincyTech’s investment of $25.5 million and includes individual investors, angel groups and venture capital firms. Yearly figures account for both the growth of the portfolio from four companies in 2007 to 59 through October 2015 and a higher average, from $993,004 per company in 2007 to $9,251,475 in 2014.

w h e n c i n c y t e c h i n v e s t s i n A c o m pA n y, i t F o R m s A s y n d i c A t e o F c o - i n v e s t o R s t o pA c k A g e t h e p R o p e R A m o u n t o F c A p i t A l

A R o u n d t h e c o m pA n y t o h e l p i t A c h i e v e m i l e s t o n e s R e q u i R e d t o g e t t o t h e n e x t R o u n d o F i n v e s t m e n t. i n v e s t o R s i n

c i n c y t e c h p o R t F o l i o c o m pA n i e s s pA n t h e c o u n t R y.

venture investors in portfolio companies

0

$75M

$100M

$125M

$150M

$175M

$200M

$222M

$250M

$50M

$25M

$4.4M$15.9M

$26.3M$20.5M

$49.4M

$95.9M

$233.0M

$36.7M

$68.4M

’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15

p o R t F o l i o c o m p A n y c A p i t A l

By year, 2007–2015.

cincytech’s Advisors, supporters & partners

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J A m e s m . A n d e R s o n Chairman Former President and CEO Cincinnati Children’s Hospital Medical CenterJ A m e s s . b u R n s Executive Chairman Assurex HealthR o b e R t w . c o y , J R . President and CEO CincyTechJ e n n i F e R d A u e R Senior Vice President for Strategy & Growth Cincinnati Children’s Hospital Medical Centerk A y g e i g e R President PNC Bank Greater Cincinnati & Northern KentuckyJ i l l p . m e y e R President and CEO Cincinnati USA Regional Chambers A n t A J e R e m y o n o , p h d President University of Cincinnatie l l e n v A n d e R h o R s t Former President and CEO Cincinnati USA Regional Chamber

b o A R d o F m A n A g e R s

s u p p o R t e R s & p A R t n e R s

Castellini Foundation

City of Blue Ash

City of Cincinnati

City of Mason

Cincinnati Children’s Hospital Medical Center

Cincinnati USA Regional Chamber

CTI

Dinsmore & Shohl

Fort Washington Capital Partners Group

Greater Cincinnati Foundation

Haile/U.S. Bank Foundation

HCDC

Interact for Health

Jewish Foundation

Meridian Bioscience

PNC

River Cities Capital Funds

Thompson Hine

University of Cincinnati

6 IncludeFitness’ founder and CEO Ryan Eder (center, holding baby) surrounded by people who can exercise on his equipment

7 CincyTech Director of Grants and University Research Dorothy Air 8 CincyTech Entrepreneur in Residence Mike Collette

1 The StoreFlix team, from left: Ross Lewellyn, Bob Jennings, CEO Louis Goldner, Adam Janszen and Lauren Scott

2 Brooke Griffin, Skinny Mom 3 Larry Schwartz, Workflex Solutions 4 Kevin Cummins, Batterii 5 Chris Powell, Blackbook HR

9 STACK Construction Technology’s Justin Ogilby, Phillip Ogilby and Jane Baysore 10 HireWheel’s CTO Steve Sperry, CEO Matt Lenahan and Lead Developer Joe Brewer 11 RoadTrippers’ co-founders James Fisher, John Lauck and Tatiana Parent

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