The QCA First Funds are a family of small investment funds which were established in 2003 to help fledgling companies reach important milestones in their development and attract additional investment from conventional sources. They have been created by matching investments from the State of Ohio's Third Frontier Action Fund. Members of the Queen City Angels, with support from the Tri-State Growth Capital Fund and others, provide management and oversight of the Fund, as well as mentoring and guidance to the portfolio companies.
In 2006, a second Fund was established to continue the work. QCA First Fund II received support from the same sources as the original Fund, and has completed its investment activities.
In 2009, QCA First Fund III was created. This Fund is somewhat larger, and has received matching investment from the Ohio Capital Fund in addition to the others mentioned above.
The typical initial investments are in the $50,000-$150,000 range. Companies needing more capital should consider other funding sources, including the Queen City Angels. Information about submitting plans to QCA can be found on the website of C-Cap or QCA.