$1 Million Anonymous Gift Allows NKU to Invest in Cintrifuse
Northern Kentucky University President Geoffrey Mearns announced Thursday that the university and the NKU Foundation have received an anonymous $1 million contribution to invest in Cintrifuse, a fund for corporations and venture capitalists.
The investment will be added to the Cintrifuse Fund of Funds, which invests in regional and national early-stage venture capital funds. Cintrifuse provides an avenue for corporations and venture capitalists to gain further insights into and engagement with the startup community in the Cincinnati/Northern Kentucky region.
The returns on the NKU’s Cintrifuse investment will support the NKU Fund for Excellence. The Fund for Excellence provides the university president the ability to support student scholarships, academic programs, study abroad opportunities and continued innovation activities at NKU.
Tim Schigel, manager of the Cintrifuse fund adds, “We’re very pleased to add Northern Kentucky University as an investor. They join 14 other corporations, foundations and schools around the area who all want Greater Cincinnati to continue to be at the forefront of innovation. We think it’s great to add their voice to the conversation.”
Mearns said the Cintrifuse investment further demonstrates NKU’s commitment to supporting local innovation and entrepreneurship.
“Our strong academic programs and skilled faculty, students, and alumni make this region an attractive home for innovative companies large and small,” Mearns said. “And with outstanding initiatives like UpTech and Cintrifuse, the local entrepreneurship community has never been stronger. This investment will provide new opportunities for our students and faculty to share their ideas with international leaders and investors in innovation.”
“The team at NKU has always been big proponents of the startup ecosystem. Their investment in the fund and engagement with Cintrifuse solidifies their ongoing commitment to the region’s initiative of attracting and supporting entrepreneurs,” Nancy Koors, Cintrifuse interim CEO and Northern Kentucky resident, said.
The Cintrifuse network of supporters includes Procter & Gamble, Kroger, Duke Energy, Cincinnati Children’s Hospital Medical Center and the University of Cincinnati.