New $200 Million Venture Fund in Cincinnati

Fort Washington Capital Partners LLC plans to raise up to $200 million for its fifth private equity fund since 1999.

In a presentation to the Greater Cincinnati Venture Association last week, Gus Long, the fund's managing director, said the Tri-State Growth Fund has committed $12 million to six funds with a regional focus that have $250 million in venture capital to invest. Two of those, Draper Triangle Ventures in Pittsburgh and Charter Life Sciences of Palo Alto, Calif., have agreed to open local offices. Four national funds, with $1 billion in total capital, have agreed to assign staff to "review deals in the region," Long said.

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