Ohio-based venture capital firm Allos Ventures has raised $40m for its second fund – nearly four times the size of its first fund.
The second fund, Allos II, will be focused on early-stage technology companies in the US Midwest. It is planned that the fund will invest between $3m and $6m. It has already invested in energy management software specialist Blue Pillar, which is also based in Ohio.
Some of the firm’s investees include AssureRx Health, BidPal, Scale Computing and WebLink International.
Allos says demand for venture capital in the region outstrips supply as several of the early-stage venture firms are no longer making new investments, while others have turned to later stage companies, and the firm aims to bridge that gap.
Copyright © 2013 AltAssets