Lightship Capital helps small startup companies

This Cincinnati-based venture capital firm wants to put money into businesses that are often overlooked, especially those owned by women, minorities and members of the LGBTQ+ community.

IT'S NOT EASY TO RAISE NEARLY50-MILLION DOLLARS.

BUT -- ANEW CINCINNATI VENTURECAPITAL FUND DID JUST THAT--IN SPITE OF COVID-19.GOODEVENING AND THANKS FOR JOININGUS - I'M PAOLA SURO.

EVANMILLWARD HAS THE NIGHT OFF.

INOUR SERIES THE REBOUND -- TOLOOK AT WAYS PEOPLE IN THETRI-STATE ARE RECOVERING FROMTHE PANDEMIC-- REPORTER LISASMITH SHOWS US WHY SO MANYINVESTORS BELIEVE IN THE GOALOF áLIGHTSHIP CAPITALá-- ANDHOW MILLIONS OF DOLLARS WILLNOW MAKE IT TO NEWER TECHCOMPANIES THAT NORMALLY GETOVERLOOKED."That was a fantasticpitch!"THIS IS ONE WAY CANDICE ANDBRIAN BRACKEEN FIND THE NEXTBIG THING."I didn't even know whereTwitch Pitch was.

I didn'tknow if it was TikTok.

Idon't know where I am rightnow (laughsfade)"THEY RUN LIGHTSHIP CAPITAL ACINCINNATI-BASED VENTURECAPITAL FIRM THEY STARTED AYEAR AGO.

THEIR FOCUS -- TECHCOMPANIES RUN BY THOSE WHO AREOVERLOOKED-- PEOPLE OF COLOR,WOMEN, LGBTQ-IAP, AND THOSEWITH DISABILITIES..

THEYPLANNED TO RAISE 20-MILLIONDOLLARS."Pre-COVID we had raised $15of the $20 million.

COVID hitand we closed the officearound mid-March.

And, wethought, 'Oh no, we are goingto be putting the pause onthisthing."INSTEAD..

VIDEO CONFERENCINGGAVE THEM A CAPTIVE AUDIENCE.BUT SOMETHING ELSE ALSOCHANGED THELANDSCAPE."I'm not certain what it wasabout Mr. Floyd's video thatchanged us all forever anchanged the entire world.

But,I think there was justsomething so frightening therethat people realized that justa regular person lost theirlife for no apparentreason."SHE BELIEVES THOSE ECONOMICDISPARITIES BECAME CLEARER TOTHOSE WITH MONEY TO INVEST..."We overshot the goal by $25million.

We have $45 millionin capital commitments, with aline of sight to get the restof the $50(million.)""I drove up to Cincinnati andspent a week with them,learning as much as could.

Itfelt like I was drinking froma firehosehonestly."JEREMIAH CHAPMAN IS C-E-O OFLOUISVILLE-BASED FRESHFRY.AND THE FIRST TO GET ANINVESTMENT... OVER THREEMILLION DOLLARS."He's a young, black chemistand little boys and littlegirls need to see that achemist can look just likethem."FRESHFRY PRODUCES PODS FORRESTAURANTS TO KEEP COOKINGOIL CLEANER SO THAT IT LASTSLONGER.

CHAPMAN STARTEDWORKING ON THE IDEA INCOLLEGE."I would take old oil fromrestaurants on campus and makebiodiesel from it.

And, make along story short, it's reallygross to dothat."THE COMPANY IS GROWING..

NOWTHERE'S A LAB IN CINCINNATI.BRACKEEN SAYS OTHERS AREWAITING TO BEDISCOVERED."If they can't find them, I'mgoing to introduce them."LSWCPO 9 NEWS