Cintrifuse named a former venture capitalist and four-time startup founder as managing director of one of the group’s biggest arms.
Oleg Kaganovich, a Sacramento-based entrepreneur and VC, was announced Tuesday as managing director of Cintrifuse’s $115 million syndicate fund, which the group uses to invest in early-stage venture capital firms and grow Cincinnati’s startup scene.
Kaganovich will lead the launch of Cintrifuse’s third fund, in addition to the ongoing management of funds I and II. He will replace Sarah Anderson, Cintrifuse’s fund director since 2016, who is moving to Colorado with her family.
Cintrifuse CEO Pete Blackshaw said Kaganovich brings the “perfect mix” of skills, experience and relationships to the organization. Cintrifuse wants to increase investment and engagement from VCs and founders nationwide, bring more startups to the region and invest more directly in Cincinnati's startup community.
Kaganovich previously worked as an investor in the U.S., Asia and Saudi Arabia; is a startup founder and operator, including with Wyndow, a location-based entertainment search engine; and a corporate development professional. In addition to building startup ecosystems both in the U.S. and abroad, Kaganovich also played a leadership role driving the direction and growth of Greater Sacramento’s innovation economy.
His hire concludes a nationwide search that kicked off in September. Anderson, who first joined Cintrifuse as a principal in 2013, will stay on board with Cintrifuse to ensure a seamless transition over the coming months, Blackshaw told me. Kaganovich has started onboarding and will be relocating to Cincinnati.
“I’m thrilled to be joining a stellar fund team,” Kaganovich said in a release. “We are at the beginning of another startup revolution, where both early and growth-stage companies have the mobility and tools to effectively build their businesses outside of Silicon Valley, New York or Boston. Add to this a large and growing talent pool, a lower-cost geography, and the backing of major local corporations, and you have a catalyst propelling the growth in historically undercapitalized regions.”
Cintrifuse’s syndicate fund consists of two individual, jointly managed funds that operate as a “fund of funds,” targeting U.S.-based venture funds active in the Midwest or expected to allocate capital, time or expertise within Greater Cincinnati and the southern Ohio region in the future. The fund has raised over $115 million in assets under management, drawing from some of the largest corporations in Ohio, including Western & Southern, Procter & Gamble, Kroger, Smucker's, Scripps, Cincinnati Children's Hospital, Bon Secours Mercy Health and Cincinnati Bell.
Fund investments include Greycroft, Revolution Ventures, Lerer Hippeau, Madrona Venture Group, Maveron, Upfront Ventures, Mercury Fund, Pelion Venture Partners, River Cities Capital, Allos Ventures, Material Science, and Cincinnati-based River Cities Capital and Refinery Ventures. Recent investments also include venture studios Atomic and Science.
Fund III, Cintrifuse said, will focus disproportionately on areas where Cincinnati has a growing concentration of talent, technology and capital, including:
- sustainability
- supply chain and logistics
- fintech
It will also provide support for women- and minority-led ventures and direct investments in Greater Cincinnati startups.
Blackshaw said Kaganovich will determine fund III's size and scope.
