Connecticut Bioscience Innovation Fund (CBIF)

Connecticut Bioscience Innovation Fund (CBIF)

Invests in Connecticut bioscience and life-science ventures with additional grant routes for academic and nonprofit teams.

The Connecticut Bioscience Innovation Fund (CBIF) is a $200 million evergreen investment fund managed by Connecticut Innovations, focused on accelerating commercialisable bioscience breakthroughs and growing healthcare-related companies within Connecticut. For the company track, CI makes equity investments in technology-based companies in bioscience, medtech, life sciences, and related healthcare sectors. Companies must have a Connecticut presence or be willing to relocate; non-recurring revenue from non-grant sources must be below $2 million; and affiliates or subsidiaries of larger companies are not eligible for pre-seed-level funding. Current portfolio companies include Halda Therapeutics, Normunity, Revalia Bio Inc., and Veradermics.

CBIF also operates a separate Academic and Non-Profit application track, governed by its own pre-application and full-application forms. This track may function as a grant rather than an equity instrument; the programme provides dedicated PDF application guides and progress report templates for academic and non-profit applicants. Detailed award terms for the academic track are available in CI's published FAQ document. The investment team includes Daniel Wagner, Megha Unhelkar, Brian Dowd, Malik Okoro, and Matthew Storeygard.

Applications for both tracks are submitted via CI's online form on a rolling basis with no fixed deadlines. The company equity track requires a pitch deck submission; the academic and non-profit track requires completion of the pre-application PDF before a full application is invited. Given the fund's focus on technology under active development and the requirement for Connecticut presence, teams with protected IP or novel platform technology and a credible state growth plan are best positioned for investment consideration.