As an economic development engine organization, 43North and its investment portfolio of 64 companies have the potential to create a windfall of positive impacts on the regional economy.
To evaluate its impact so far, Business First analyzed its startup portfolio successes as well as its regional effects like job creation.
But another way to slice and dice 43North’s portfolio data is by industry. What markets has the largely state-funded accelerator and incubator backed? What industries received the highest percentage of funding so far?
Since it was founded in 2014, 43North has committed to pumping $40 million into 64 startups.
43North portfolio companies’ data came from Business First reporting, 43North, Pitchbook and Crunchbase. Four of 43North's original 64 portfolio companies are not included in our analysis, because information could not be found on them. They likely are out of business.
Coming soon: Business First’s analysis of the 43North filings is part of a larger story, publishing Sept. 1, evaluating 43North’s portfolio companies’ success and the economic engine’s overall regional impact. Sign up for our newsletters to make sure you don't miss it — and the searchable database on the portfolio companies that it will include.
Data shows that nearly half of 43North’s portfolio businesses come from the software industry, followed by 28.3% from life sciences, 10% from consumer products, 8.3% from manufacturing and 5% from clean tech.
When it comes to percentage of total investment capital deployed, the breakdown follows a similar pattern. About half of the invested funds went to software companies and 25.4% went to life sciences.
See a detailed breakdown here:
