On Jul. 31, 2012, the Connecticut Development Authority (CDA) was merged into Connecticut Innovations (CI) which was created by the Connecticut Legislature in 1989. CI is Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for innovative, growing companies.

The CDA was a quasi-public agency governed by a board composed of state agency heads, the state treasurer, and gubernatorial and legislative appointees that provided strategic capital and operational support to advanced technology industries, including biotechnology, information technology, and photonics.