Venture Investment Associates seeks $125m for energy fund of funds


oil oil_lrgFund of funds manager Venture Investment Associates is seeking $125m for a new energy fund, AltAssets has learned.

Venture Investment Associates Energy III has yet to register its first commitment, a document filed with the US Securities and Exchange Commission showed.

The fund has not set a minimum commitment requirement and does not have a placement agent, according to the filing.

The New Jersey-headquartered firm targets small low-risk underutilised properties that have been overlooked by large energy companies and that could benefit from additional development.

“The energy market will remain strong. Global demand continues to increase as emerging markets are expanding to require more energy input,” the firm said on its website.

VIA currently has $1.25bn under management across seven diversified private equity, two energy-related, and a micro-cap venture funds of funds.

In May this year AltAssets reported that the firm had raised nearly $150m for three vehicles, Venture Investment Associates VII, VIA VII-VC and VIA Seed Technology Partners I.

The firm did not disclose how much it raised for its seventh fund of funds, but the most recent filing for the fund showed that it had a $225m target and had raised nearly $118m as at mid-April.

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