The O.H.I.O. Fund Marks One-Year Milestone with Close of $106 Million Institutional Impact Fund and $238 Million Raised

The O.H.I.O. Fund, a private investment advisory firm with a unique investment thesis focused on leveraging Ohio's momentum to accelerate economic prosperity and growth across the state, announced today the successful close of one of its funds, The Ohio Institutional Impact Investment Fund (Impact Fund), at $106 million in commitments. This milestone caps the firm's first year in operation, during which it raised a total of $238 million in commitments, and executed 19 investments across the state.

Of the $238 million raised in the past 12 months, $195 million was raised into the firm's two core funds-the Impact Fund, which now is closed, and an evergreen fund. An additional $43 million was raised through special purpose vehicles, allowing investors to co-invest directly in four of those investments, alongside the funds. A total of 106 investors, nearly all Ohio-based, participated.

"We're doing what we said we'll do-invest across the state, build a great team, and deliver results. Promises made, promises kept," said Mark Kvamme, CEO and Chief Investment Officer of The O.H.I.O. Fund.

Investment Activity and Strategy
The first year has proven successful for The O.H.I.O. Fund's unique investment thesis. Ohio is at an inflection point, poised for significant economic growth, with a diversity of opportunities in various regions of the state. It's home to many businesses and important projects looking for capital, with opportunities to scale across asset classes and industries. The firm focuses on providing that capital to help accelerate growth. It's off to a strong start.

The O.H.I.O. Fund made 19 investments in its first year. A few of those investments include the much-heralded Eagle Electronics (Solon), an industry-leading producer of IoT and automotive-grade cellular modules on the cutting edge of innovation, and JucaBio (Cincinnati), established to build biotech companies around promising, novel therapeutics in areas of high unmet needs. JucaBio's model was developed to efficiently identify, acquire, and advance early-stage novel therapeutics from academia, large pharma, and other biotech companies.

These investments span a wide range of sectors-including advanced manufacturing, biotech, logistics, and workforce technology-reflecting the firm's commitment to backing high-impact companies in communities across Ohio. The funds also acquired interests in a variety of real estate and infrastructure endeavors, including more than 3,000 acres of land for next-generation technologies and businesses to expand or locate within the state.

Another standout investment, Innosource, highlights the firm's strategy of identifying companies deploying artificial intelligence to streamline workflows and drive operational transformation. The funds are supporting Innosource's evolution into a technology-forward workforce solutions provider, leveraging artificial intelligence and advanced analytics to deliver smarter, faster, more scalable solutions to solve complex customer challenges and drive measurable gains.

Team Growth and Leadership Expansion
The O.H.I.O. Fund began with four founding partners and made its first full-time hire on July 1, 2024, immediately following the initial close of the two funds. Since then, the firm has added three full-time employees and brought on a special advisor dedicated to real estate investments and a second special advisor focused more broadly on deal flow and fundraising.

The firm has established an Advisory Board, consisting to date of five respected Ohio business leaders:

• Alex Fischer (Columbus)
• Jim Hoffman (Toledo)
• Tony Manna (Akron)
• Bob Smith (Cleveland)
• George Vincent (Cincinnati)

Looking Ahead
In its second year, The O.H.I.O. Fund will continue to raise and deploy capital consistent with its thesis-focused on identifying and scaling high-potential Ohio companies, real estate investments, and infrastructure deals. The firm will continue to emphasize investment themes such as the accelerating impact of AI, energy availability, favorable state policy trends, onshoring opportunities, and the continued migration of businesses to Ohio.

"There's a wave of companies in Ohio ready to grow. Historically, these kinds of companies have been held back by limited access to the capital that could support their growth. We're here to change that-and the market is responding," said Ray Leach, President of The O.H.I.O. Fund.