About
Connecticut Angel Investors is a tax credit facilitation program administered by Connecticut Innovations, a venture capital firm founded in 1989 and based in New Haven, Connecticut. The program operates as a structured incentive mechanism rather than a traditional angel network, enabling individual angel investors to receive annual Connecticut tax credits on qualified investments in Connecticut-based businesses (QCBs). The program runs on a fiscal year basis from July 1 to June 30, with current operations expiring June 30, 2028. Individual angel investors can receive a maximum tax credit of $500,000 per investor. The application process requires angels and QCBs to jointly complete the Connecticut Angel Tax Credit Voucher Application after investment is made, with approval typically taking 10 to 15 business days. Connecticut Innovations then issues the tax credit voucher to both parties. During fiscal year 2025, the program demonstrated significant activity with 134 angels co-investing $16 million across 33 qualified Connecticut businesses. Connecticut Innovations itself, through its flagship Eli Whitney Fund and Pre-Seed Fund, invests in seed-stage, early-stage, and later-stage companies across multiple sectors, typically deploying up to $1.5 million per round with a maximum of $7 million per company. The organization emphasizes syndicate-based investment approaches, regularly partnering with external venture capital and angel co-investors to strengthen portfolio company outcomes. Over its 33-year history, Connecticut Innovations has facilitated co-investment participation by 808 investors across its portfolio companies. For prospective participants, contact information is available through program administrator Tamyra Cote at (860)-258-7858, though applications are currently closed pending program updates.