The entrepreneurship-supporting KCRise Fund—a sidecar venture capital initiative of the KC Rising economic development effort—announced today that it has selected two area companies for the fund’s first investments.
The companies chosen are, SpiderOak, an online data security company with several successful products on the market and Innara Health, a global leader in developing new neonatal medical products. Leadership at both companies expressed their enthusiasm for working with KCRise, as well as their pride in being located in greater Kansas City.
The KCRise Fund co-invests with institutional venture-capital investors in early stage companies based in the Greater Kansas City Area. To date, $10.7 million has been secured from Kansas City area investors.
To be considered as a portfolio company, KCRise criteria say a company will have high growth potential, reside or have substantial operations between Manhattan, KS and Columbia, MO, and be seeking at least $1 million in a Series A round and have an approved venture capital firm investor in the funding round.