Connecticut Innovations (CI), a US state-backed investment organisation, has hired Mark Zhu as an investment associate from energy group DTE’s corporate venturing unit and promoted Deb Santy as director of strategic partnerships.
In April, David Wurzer, formerly a senior managing director at CI since 2009, was promoted to chief investment officer and executive vice-president and has subsequently hired Zhu, previously an investment manager at DTE Energy Ventures, who said: “DTE is focusing on monetising existing portfolio companies and not actively looking for new investments.”
CI’s recent deals include ActualMeds, which relocated from Cambridge, Massachusetts, and a $1.5m loan to PCC Technology Group.
Glendowlyn Thames, formerly special assistant to the CEO at CI, replaces Santy as the director of Small Business Innovation, which runs CTNext.
Claire Leonardi, CEO of Connecticut Innovations, said: “We are hearing from large companies across many industries that they want to connect with new products, materials and R&D [research and development] that is occurring in our growing community of small companies and universities…, which is why an increased emphasis on building stronger relationships with both large and small innovative businesses as well as Connecticut’s universities and colleges will benefit the larger community.”
– Photo of Mark Zhu courtesy of New Enegry New York