The City of Akron established Akron BioInvestments Funds, LLC to attract and nurture biomedical companies in Akron, Ohio. With an initial fund size of $1.5M, the majority of investments come from private organizations like Medical Mutual, First Energy, Cascade Capital, and NEOMED. Managed by Akron BioInvestments Fund, the venture capital arm of Akron Development Corporation, the fund invests in the United States with ticket sizes ranging from $25,000 to $225,000 and an investment horizon of 3 years.