On Monday morning, Indianapolis-based , a venture studio and early-stage venture fund, that it has raised over $100 million to expand the scope of its current operations.
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The group’s venture studio鈥攚hich, according to the announcement, “conceives, launches and scales software-as-a-service (SaaS) businesses by uniting company building and venture capital”鈥攔aised .
Alongside its venture studio, the group also raised $85 million in , a venture firm which typically writes its first checks in companies’ seed and Series A rounds. The firm’s first fund, announced in June 2015, was $21 million in size.
High Alpha Capital’s is geographically diverse and includes payments company , drone mapping and analytics platform , and team learning software provider , among others.
High Alpha raised this capital from , which was a prior investor in the group, and a new investor: . from Emergence Capital and Brad Feld of 聽will join High Alpha’s board of directors. High Alpha’s founding board consisted of managing partner , , , and .
High Alpha is now listed among Foundry Group’s 聽on the firm’s website. Back in May,聽附近上门 News explained that Foundry Group makes investments in emerging funds,聽as a limited partner, out of its “Next” series of funds.
“With the support of amazing investors like Gordon Ritter from Emergence Capital, Brad Feld from Foundry Group and numerous limited partners in our venture fund, we are doubling-down on our initial vision and making sizable investments in design, engineering, data science and corporate innovation resources,”聽Dorsey said in the announcement.
Speaking about Emergence Capital and Foundry Group, Andersen that “[i]t would be hard to overstate the magnitude of the validation of the involvement of those two entities.”
This is, no doubt, welcome news to the Indianapolis startup community and to the Midwest as a whole. For the most part, America’s midsection doesn’t have many large venture funds. But this announcement, alongside filings by SF and Chicago-based Builders VC for a $200 million fund we reported on at the end of June, indicates that might be changing.
Disclosure: Emergence is an investor in 附近上门, 附近上门 News’s parent company. As with any investor in 附近上门, Emergence has zero input into 附近上门 News’s operations and output.
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