JumpStart Ventures Announces Acquisition of Portfolio Company DIY Real Estate Solutions

CLEVELAND, May 11 /PRNewswire/ -- JumpStart Ventures, which invests in and partners with innovative, early-stage companies in Northeast Ohio, announces that its portfolio company, DIY Real Estate Solutions, a developer of web-based property management software solutions, was acquired by Yardi Systems, a global asset and property management software provider.

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As the investment arm of Ohio Third Frontier-funded JumpStart Inc., the non-profit that creates economic transformation by securing resources for and providing resources to entrepreneurs, JumpStart Ventures generated a positive internal rate of return on its investment.

"This positive exit is a great win for DIY's seasoned entrepreneurial team," said Becca Braun, President of JumpStart Ventures. "For us, it shows that investing in early-stage businesses works. While picking winners at this earliest investment stage is tricky business, we know there will be winners that will grow, create wealth for entrepreneurs and employees, and further grow the cycle of success in our early-stage technology community. From an investment and growth standpoint, DIY is one of those winners."

The return on investment will enable JumpStart Ventures to continue investing in 10 to 15 early-stage companies each year.

"What's great about this acquisition is that it's a big win for every party involved," said Bob Lasser, former Chairman of DIY and Managing Director of Danville Partners. "JumpStart Ventures had its first return, DIY will greatly accelerate its growth under this new leadership, and now I'm looking forward to continuing to focus on generating successful results for the Danville portfolio companies and the other Northeast Ohio companies with which I am involved."  

The acquisition allows Yardi to offer an integrated, web-based property management system designed for companies that manage 1,000 or fewer units.

"DIY's software offered the perfect complement to our suite of products and the team in place was impressive," said Brad Setser, Vice President of Yardi. "Overall, the company made for a very attractive acquisition. Having both companies' solutions increases the options that will help clients operate more efficiently and competitively."

JumpStart Ventures has made 60 investments in 47 companies.

About JumpStart Ventures

JumpStart Ventures invests in and forges partnerships with innovative, early-stage Northeast Ohio companies that have the potential to generate $30 to $50 million in revenues in five to seven years. It helps companies accelerate their time to venture-readiness by bundling guidance from experienced Venture Partners with seed investment capital. JumpStart Ventures is the investment arm of JumpStart Inc., a nationally recognized non-profit organization creating economic transformation by securing resources for and providing resources to entrepreneurs leading high potential early-stage companies.

SOURCE JumpStart Ventures