Cintrifuse, Cincinnati’s flagship startup support group, has tapped a new CEO ahead of the pending exit of its current lead Pete Blackshaw. The hire ushers in a new leadership structure as the organization looks to put more financial support behind early-stage companies in the region.
J.B. Kropp, considered one of the pioneers of the local ecosystem and a former co-founder of the famed Brandery accelerator, will succeed Blackshaw as chief executive, effective March 4. Kropp will also continue to serve as managing director of Cintrifuse Capital, a role he assumed in April 2023.
Blackshaw announced his exit in early January following a five-year tenure. He plans to pursue new opportunities surrounding artificial intelligence, or AI.
Kropp’s promotion, announced this morning by Cintrifuse’s board of directors, follows a two-month process that included internal and external stakeholders. Guy Persaud, Cintrifuse board chair and the president of new business at downtown-based Procter & Gamble, said an executive search committee considered a number of different paths in filling the CEO role, ultimately selecting Kropp.
“Our board and I agreed, and we feel that J.B. is the right leader for us moving forward,” Persaud said a news release. “We are confident that J.B. will build on all of the momentum that Pete and our Cintrifuse team have created and take us to new heights.”
Cintrifuse will also shift Nikki Boehmker, currently the organization’s controller and chief compliance office for Cintrifuse Capital, into a newly created role of executive director.
Boehmker will be responsible for overseeing all operational aspects of the nonprofit arm. All Cintrifuse functions will report to Boehmker, and she will report to Kropp.
Kropp said the dual appointment will allow for more cohesion between Cintrifuse Capital and the nonprofit side, charged with providing startup support services, holding events and managing coworking opportunities at Over-the-Rhine’s Union Hall.
Cintrifuse Capital was launched as a recent rebrand of Cintrifuse’s syndicate fund, which has $175 million in assets under management. Cintrifuse Capital now operates as a true venture firm – investing in both seed-stage Cincinnati startups and venture funds around the country – and is a U.S. Securities and Exchange Commission-registered investment adviser.
Cintrifuse Capital is already making direct investments from its Fund III, which is backed by several Cincinnati corporations.
“In my eight months leading Cintrifuse Capital, I have seen first-hand the vibrancy of our startup ecosystem and the opportunity we have ahead,” Kropp said in the release. “This dual appointment will enable Cintrifuse to have even more impact.
“I have worked closely with Nikki since joining Cintrifuse Capital, and I have been very impressed with her leadership ability, her attention to detail and her ability to tackle complex challenges,” he added. “I can think of no better person to help lead us in this next chapter of the organization.”
Boehmker first joined Cintrifuse in 2021. She previously served as an assurance director at accounting firm PricewaterhouseCoopers.
Kropp, in addition to his work with the Brandery, a nationally ranked accelerator at its peak, is also co-manager of Vine Street Ventures, a regional early-stage investment fund; and co-founder/board member of Main Street Ventures, a Cincinnati nonprofit.
He has served in strategic and operational leadership roles at Gorilla Glue, E.W. ScrippsCo. and Twitter.
