Projo Biz Blog

Eleven Rhode Island-based technology companies received $3.1 million in funding commitments from the Slater Technology Fund, according to a new report for the fiscal year that ended June 30. Of the $3.1 million, $1.75 million was completed during the fiscal year and the remaining $1.35 million closed after June 30.

Four of the 11 investments were initial investments for Slater, the state-backed venture capital fund. The other seven were follow-on investments in ventures that had received previous Slater funding. Five of the seven follow-on investments were made in parallel with co-investors. In those transactions, Slater invested a combined $1.1 million while co-investors contributed $2.3 million.

Slater also recovered in excess of $780,000 from portfolio companies during the fiscal year.

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