Cincinnati, Ohio, April 12, 2023—Cintrifuse Fund Management welcomes J.B. Kropp as Managing Director, Syndicate Funds. Kropp will lead the nationwide launch of Fund III, a new hybrid fund designed to support startups from ideation to growth, combining the traditional “fund-of-funds” model of Cintrifuse’s first two funds with the addition of a venture studio project plus increased direct investment in local tech startups.
Known as one of the pioneers of the Cincinnati startup ecosystem, Kropp has served in impact-building roles since 2010, including the Co-Founder/Board member of the Brandery, a nationally-ranked accelerator leveraging the Cincinnati region’s branding and marketing expertise, Co-Manager of Vine St. Ventures, a regional early-stage investment fund, and Co-Founder/Board member of Main Street Ventures, a Cincinnati non-profit empowering the next generation of entrepreneurs. He has also served in strategic and operational leadership roles at Gorilla Glue, Scripps, and Twitter.
“I’m excited to build upon the success Cintrifuse Fund Management has achieved with its prior funds,” says Kropp. “With a clear new vision, we will look to make a big impact on Cincinnati’s entrepreneurial ecosystem while targeting to invest in national top-performing venture capital funds.”
Guy Persaud, Cintrifuse Board Chair and President of Procter and Gamble New Business Innovation, is excited to enroll Kropp in advancing the Cintrifuse mission. “We couldn’t be more excited about making Greater Cincinnati the fastest-growing startup hub in the Midwest and a top innovation center in the country. J.B. will be a critical leader in this mission.”
Cintrifuse Fund Management, the investment arm of Cintrifuse, has over $180 million in assets under management through two strategic “fund of funds,” Funds I and II. Fund III will balance both syndicated and direct investments, attract national VCs to Cincinnati, and directly support local startups.The fund will also look to leverage opportunities in sustainability, supply chain, fintech, and with diverse founders.
“J.B. brings a broad, deep network, and his experience aligns with our Fund III strategy pillars,” says Pete Blackshaw, CEO of Cintrifuse. “He’s passionate about Cintrifuse’s mission to drive more investment and talent to Cincinnati. He has been successful in building local/regional relationships and has a strong track record of encouraging and supporting diverse founders and entrepreneurs.”
Maribeth Rahe, President and CEO of Fort Washington Investment Advisors, served as a search committee member. “Cintrifuse is such an important part of the start-up community in our region, and we are excited to welcome J.B. as the new Managing Director, Syndicate Funds,” she says. “He brings the right talents to continue to build on Cintrifuse’s success with his knowledge of the venture community and his national network of talent and capital.”¹
Tom Williams, Cintrifuse Board Member and President and CEO of North American Properties, believes Kropp is the right leader to meet the current priorities of the ecosystem. “This appointment comes on the heels of a critically important ten-year assessment on Cintrifuse’s approach to building a world-class innovation ecosystem. J.B. is the perfect leader to ensure the Cintrifuse fund drives even greater local impact.”¹
