VC News | J2 Ventures has secured $150 million for its second fund
The Ohio High-Growth Investment Opportunities (O.H.I.O.) Fund has first close of $108 million.
From Boston, MA:
Washington Technology Daily reports that J2 Ventures has secured $150 million for its second fund to continue investing in technology start-ups whose products have potential application for federal agencies.
MetLife, JP Morgan, and the New Mexico State Investment Council are among the investors who contributed capital to J2 Ventures’ new Argonne Fund. J2’s inaugural fund closed in 2021 at $67.5 million. The Boston-headquartered firm’s areas of focus include cybersecurity, advanced computing, healthcare, telecommunications and infrastructure.
Led by a group of military veterans, J2 also works with its portfolio companies to secure government contract funding and support efforts to further scale out their technologies for adoption by agencies. J2 gears its investments toward start- ups between the pre-seed stage to Series A.
From the State of Ohio:
Two leading business figures from the Greater Cincinnati region have teamed up with two of Ohio’s top venture capitalists to launch a new state-specific growth capital investment fund that aims to reach $500 million.
Mike Venerable, who retired in January after seven years as Chief Executive Officer (CEO) of CincyTech, and Jill Meyer, former CEO of the Cincinnati USA Regional Chamber, are two of the four founding leadership team members for the Ohio High-Growth Investment Opportunities (O.H.I.O.) Fund. Venerable is the fund’s founding Director of Healthcare and Life Sciences, while Meyer is Chief Legal Officer and a founding Managing Director.
Others joining in the O.H.I.O. Fund are Mark Kvamme, Co-Founder and Managing Partner of Columbus-based Drive Capital, who is serving as CEO and Chief Investment Officer as well as another founding Managing Director, and Ray Leach, founding CEO of Cleveland-based JumpStart Inc. whose role is Chief Operating Officer and also a founding Managing Director.
The founders intend to invest about one-fourth each in Cincinnati, Cleveland and Columbus, with the remaining 25 percent spread around the rest of the Buckeye State.
As reported in Dayton Inno, the fund completed a first close on July 2, receiving commitments for $108 million, according to a Securities and Exchange Commission filing.
From Atlanta, GA:
Sovereign’s Capital, a diversified alternative asset manager dedicated to excellence in faith-driven investing, has closed its largest venture capital fund to date, Venture Capital Fund IV, LP, with more than $60 million in committed capital.
The investors in the latest fund include both existing limited partners and new institutional investors, making it the firm’s largest pool of capital dedicated to early stage technology start-ups. As of June 2024, Sovereign’s Capital managed more than $780 million in assets across five asset classes: venture capital, private equity, public equities, fund of funds, and real estate.
Sovereign’s Venture Capital Fund IV invests in Seed and Series A stage technology companies led by faith-driven entrepreneurs across the U.S. and Southeast Asia. Such founders seek to deliver strong financial returns while simultaneously “loving their neighbor” through their products and internal company cultures. The firm believes that scaled technology companies are uniquely positioned to provide excellent financial returns and contribute to human flourishing.
From Cincinnati, OH:
In an interim filing with the Securities and Exchange Commission, CincyTech reported raising $20,175,000 through late June for its CincyTech Fund VI LLC. Launched on June 30, 2022, the fund was seeking to raise $100 million.
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