Michigan-based Belle Capital is seeking $25m for its early stage angel Belle Capital USA Fund, having already raised $3.1m through commitments from 31 LPs, according to a filing with the US Securities and Exchange Commission.
The fund will target digital, mobile and internet products and services within the life sciences, medical devices, health IT and cleantech space in the US. Portfolio companies should have at least one female founder or C-level executive and/or be willing to recruit female talent to the C-suite or board of directors, the firm said.
The vehicle will seek a portfolio of companies generating $1m or more in revenues with a capacity to reach $20m or more within three to five years. It typically invests between $100,000 to $1.5m per transaction, while aiming to a lead or co-lead position in Series A preferred rounds.
Managing partner Lauren Flanagan has 25 years of experience in the technology sector. She is currently CEO with SCIO Corp as well as a co-founder and managing director of the Wisconsin and Midwest women and minority-focused Phenomenelle Angels Fund.