UpTech's third round could change startup funding

For the past two years, UpTech has helped launch 15 companies, giving them seed funding, office space and connections with mentors and potential strategic partners.

Now, UpTech wants to help its successful companies keep growing and accessing capital. In the process, it may well change the face of startup funding in Northern Kentucky.

UpTech soon will start raising money for its third fund, which could be up to six times larger than the accelerator's first two funds that raised $800,000 and $750,000, respectively.

In addition to providing seed funding for UpTech's third class of startups, the new fund will offer additional capital to other promising young companies in the region that need money to grow. Those investments will include follow-on seed rounds, which typically reach up to $2 million, and early stage rounds, which typically range between $3 million and $6 million.

"We've recognized we have to grow each stage of funding," UpTech co-founder Casey Barach said. "A larger fund for UpTech and other companies is the next step."

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