Stamford, Conn, February 2, 2016 – Austin, TX-based Petros Partners and private equity investor Barry Schwimmer have joined forces to create and manage Petros Connecticut Fund I, an investment fund focused on supporting the growth of Connecticut-based businesses. The Fund’s parent company is Petros Partners, an Austin, TX-based investment and advisory firm that specializes in investing in growing, lower middle market companies across the country.
The mission of the Fund, which operates under the Connecticut’s Insurance Reinvestment Tax Credit Program, is to encourage and assist in the creation, development, and expansion of Connecticut businesses by providing them access to both capital and operational expertise.
Jim Stanislaus, Petros’ Co-founder and Managing Director said “We are thrilled to have created the fund and become a part of the Connecticut entrepreneurial and investment community. This continues our tradition of partnering with exceptional local management teams to create real value and economic growth.” Mansoor Ghori, Petros’ Co-founder and Managing Director said “As veterans of the Austin entrepreneurial economy and national financing markets we look forward to bringing our experience and success to bear in Connecticut.”
Mr. Schwimmer, Petros Connecticut’s Managing Director, is also Founder and Managing Partner of the Stamford Innovation Center, one of the leading startup incubators and coworking facilities in the state. SIC companies of note include Arccos Golf, Tru-Optik, eBrevia, US Mobile, Sensify and Applango.
“We created this new fund to bring much needed growth capital to our local Connecticut economic ecosystem,” said Mr. Schwimmer. “It is highly complementary to our work at the Stamford Innovation Center. Our joint mission is to grow the entrepreneurial community and create jobs in Fairfield County and Connecticut. Hopefully this will be the first of several targeted investment initiatives to bring capital to our local small businesses, which traditionally have had difficulty accessing larger, more traditional resources. I am thrilled that Petros Partners has brought their expertise to this critical mission.”
Mr. Schwimmer is a highly experienced and successful private equity, venture capital and angel investor. He brings more than 25 years of experience in those disciplines to Petros Connecticut. Prior to becoming Managing Director of the Petros Fund, Barry was the founder of Stoneybrook Capital, a Managing Director at Commonwealth Capital and co-founder of Chemical Venture Partners. He has invested in businesses including distance education, communications & media, retailing, consumer products, business services, and manufacturing.
For more information on the Petros CT fund, visit: http://bit.ly/Petros-CT