CIT GAP Funds 2020 Impact Report Showcases $32.4 Million in Capital Deployed to Date
Investments have supported the creation of nearly 6,500 jobs throughout the Commonwealth
CIT Growth Acceleration Program (GAP Funds)
Since 2005, CIT GAP Funds has invested in Virginia’s leading technology start-ups generating significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia.
CIT GAP Funds is a family of seed and early stage venture funds investing in Virginia-based technology, life science, and
cleantech companies, with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Serving a vital connecting function, CIT GAP Funds partners with accelerators, seed-funds, and angel groups across Virginia’s entrepreneurial ecosystems to source and invest in companies. Serving as Virginia’s venture capital “on-ramp,” CIT GAP Funds helps portfolio companie
CIT Announces Inaugural Solicitation for the New Commonwealth Commercialization Fund
Up to $7 million in non-dilutive funding available for Virginia companies
Richmond, VA, Jan. 07, 2021 (GLOBE NEWSWIRE) The Center for Innovative Technology (CIT) announced today its Request for Proposals (RFP) for the first solicitation under the newly formed Commonwealth Commercialization Fund (CCF).
The CCF was launched on July 1, 2020 to foster innovative and collaborative commercialization efforts in Virginia, consolidating two legacy programs: the Commonwealth Research Commercialization Fund (CRCF) and the Virginia Research Investment Fund (VRIF). In FY2021, CIT is conducting a single CCF solicitation for young Virginia companies that have strong potential to drive economic growth in Virginia, including through revenue and job creation. Up to $7 million is available to award; a one-to-one match is required.