LiveClips Receives Additional $2.15 Million Investment
CEO Lewis Bakes said LiveClips, received $1.15 million in late December from two funds focused on investing in Connecticut businesses and managed by Advantage Capital Partners ( www.advantagecap.com ), a 20-year-old national investment firm with more than $1 billion under management, and Ironwood Capital Connecticut of Avon ( www.ironwoodcap.com ), a 20-year-old regional investment firm with more than $400 million under management. Two private investors also participated, he said.
An additional $1 million cash infusion closed in February, he said, with $500,000 each from Advantage/Ironwood funds and Connecticut Innovations ( www.ctinnovations.com ) of Rocky Hill, the state’s quasi-public authority responsible for technology-based economic development. Last summer, Connecticut Innovations supplemented the initial investment made by Amazing Grace Media LLC, of New Canaan, a private firm led by Mr. Bakes, by investing $1 million in the company.


