New York-based venture capital firm Alpha Venture Partners has reportedly held a first close for its maiden fund.
Alpha has raised $10m from a collection of family offices, according to Dow Jones.
The fund will invest between $150,000 and $2m in growth and expansion stage companies, typically backing Series B funding rounds.
Alpha said that its sweet spot is $5m to $20m in revenues. it targets software and information technology sectors including e-commerce, mobile, social, business process outsourcing, information services and tech-enabled services.
Its portfolio businesses include enterprise grid and cloud computing software company Data Synapse, real-time display ad platform for email LiveIntent and GameTrust, which provides infrastructure for community and commerce applications in online games and entertainment.
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