Origin Ventures closes third fund on nearly $45m


chicago illinois_sqChicago venture capital firm Origin Ventures has raised almost $45m for its third venture fund, AltAssets has learned.

Origin principal Brent Hill told AltAssets that the Origin Ventures III fund was closed  on nearly $45m in January. According to a recent filing with the US Securities and Exchange Commission, the firm raised $44.57m from 18 LPs, which had to commit at least $20,000.

Origin has already invested from the fund, having provided $310,000 in seed funding to urban data intelligence company CityScan in April.

The fund follows the firm’s $15.5m second fund raised in 2012.

Origin is focused on early stage businesses in the e-commerce, digital media and ad technology and software as a service sectors. The new fund will make Series A financing for companies operating in these areas as well as in other technology sectors.

Similar sized venture funds currently being raised include Frost Venture Partners’ $50m second fund, which has recently hit a first close.

Earlier this month technology-focused firm Long River Ventures launched a $40m fund.

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