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Kevin Rennie

High-Tech Investment Agency Frozen Out Of State Money

Connecticut Innovations, the state-funded venture capital fund with a mandate to spur high-tech job growth, has been hobbled after being frozen out of state borrowing for the past six months.

The agency, which is not part of the state government but still subject to some government control, says it will be unable to commit to new investments for the rest of the year.

Lauren Carmody, director of public relations for Connecticut Innovations, said Tuesday that the agency wanted more state funding in March, and again in May and July, but the State Bond Commission did not put the request on the agenda in any of those months. The commission canceled its June and August meetings. A...