VC News | Some new big funds and at least one not so big
There's a newly launched organization with a name that describes its focus. It is the Great Lakes Venture Capital Association.
From Cherry Hill, NJ:
U.S.-based food and drinks growth equity firm Siddhi Capital has raised $135 million for its second fund, doubling the size of its inaugural fund that closed in 2020. According to the announcement, the firm plans to invest the capital raised in “growth-stage companies across consumer and food tech.”
Siddhi Capital was founded the same year it raised its first fund.
“Today’s health and wellness objectives are driving consumable purchasing power—but we also know that we cannot continue doing the same things and achieve the same or better results,” said Melissa Facchina, Co-Founder and Managing Partner of the firm. “Siddhi is focused on investing in innovative solutions for both today and the future — and doing so by putting the best talent in the industry to work inside of the companies we believe in.”
From San Francisco, CA:
- venBio has announced the closing of venBio Global Strategic Fund V, its fifth life sciences venture capital fund, exceeding its target and closing on approximately $528 million in capital commitments in an oversubscribed fundraise. The firm initiated the fundraising for Fund V in mid-April. Limited partners of Fund V include a broad range of institutional investors comprising sovereign wealth funds, corporate pensions, financial institutions, university endowments, medical institutions, foundations, family offices, and funds-of-funds. Since its founding in 2011, venBio has raised roughly $2 billion in capital commitments and led investment rounds in more than 40 companies.
- Moxxie Ventures has announced the successful raising of a $95 million round, the firm’s third. Founded in 2019 by Katie Jacobs Stanton, Moxxie has backed more than 50 seed stage companies and roughly half have moved on to raise additional capital. The firm has also supported founders achieve great milestones such as building the first commercial US Direct Air Capture facility, getting featured in the Time 100, and being invited to the White House. Moxxie says that it has “found our own product-market-fit as generalist seed investors, but with a strong passion for vertical applications of AI (artificial intelligence), climate-tech, healthcare, future of work and robotics. We back founders with a track record of excellence, who work tirelessly to build and have a deep personal connection to the specific problem they are addressing.”
From McLean, VA:
Blue Delta Capital Partners, a Tysons-based venture capital firm, is preparing to make more equity investments in local growth-stage tech firms serving the federal government following the close of its Fund IV that raised an oversubscribed round of $250 million.
The Blue Delta Capital Partners Fund IV will allow Blue Delta to continue to scale the firm’s clear and proven track record of success in the US federal government services sector, providing growth-stage venture capital investments to top companies in the sector ($15 million to $50 million equity investments for noncontrolling ownership positions).
“We are humbled by the overwhelming support of our investors. In addition, given our sector focus, we are very proud to once again have a fund that is comprised solely of U.S. investors,” said General Partner Kevin Robbins in an interview with citybiz. “Since we began 15 years ago, we have been focused only on the federal government market and our track record of venture capital investing in this sector as a value-added partner to our management teams has been proven out by the industry-leading returns that our companies and our funds have achieved.”
Founded in 2009, Blue Delta was formed to fill a void in the government services marketplace by providing equity capital to entrepreneurs who wanted to grow their businesses without selling control of their companies or taking on too much debt. The venture capital firm makes equity investments in return for non-control ownership positions and – given its team members’ combined decades of experience as venture capitalists and successful Chief Executive Officers – it can serve as a value-added partner in the businesses that it backs.
From the Midwest/Great Lakes Region:
There’s a newly launched organization with a name that describes its focus. The Great Lakes Venture Capital Association announced its formal launch on August 6. The organization will work to empower the top venture capital firms in the middle of the country – namely Ohio, Indiana, Michigan, Illinois and western Pennsylvania – with the goal of fostering a “collaborative environment that benefits everyone.”
The association was launched by four venture capitalists – Tim Schigel, Managing Partner at Refinery Ventures; Camila Noordeloos, General Partner at Grand Ventures; Adrian Fortino, Managing Director at Mercury; and Chad Summe, Managing Partner at eGateway Capital – and Kaleb Dumot, Founder and Managing Partner at Integrity Power Search.
From Austin, TX:
Create Health Ventures, a venture capital firm exclusively focused on early stage digital health start-ups with founders from the healthcare industry, has announced the close of its first fund of $21 million. The new fund’s mission is to invest in innovations that improve access to care for everyone, enhance the patient experience, and facilitate better patient health outcomes.
The firm invests in business-to-business (B2B) solutions that both payers and pharmaceutical companies can leverage to meet business goals ranging from enhanced patient engagement and a more effective care journey to recruitment and retention in clinical trials as the need for participants accelerates.
“We’ve heard firsthand from payers, providers, and pharmaceutical companies that their business goals are to elevate the patient experience, facilitate better health outcomes, and improve access to care for all, especially those with health disparities,” said Emma Cartmell, Co-Founder and Managing Partner of Create Health Ventures. “We know that founders from the healthcare industry intimately understand how to meet these challenges leveraging technology, and supporting them is the most powerful way that we can invest and, in turn, positively impact the healthcare industry.”
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