Grotech Ventures, a top venture capital firm focused on tech related start-ups has closed its eight round of funding amounting to $225 million. The new Grotech Ventures II (GV II) went 10 percent higher more than the expected amount to be raised and comes from both new and existing investors.
GV II’s areas focuses on start-ups in the fields of social media, cloud computing, enterprise, security, eCommerce, green technology and healthcare. It will also continue the venture capital firm’s core mission which is to provide first round funding then continue with smaller series rounds of funding to the most innovative early stage IT companies in high growth markets.
“We’re extremely pleased to have raised GV II, which speaks to the success of our investment approach, our ability to execute investing fundamentals, and the solid performance of our most recent fund,” said Frank Adams, managing general partner and founder of Grotech Ventures. “These attributes were directly related to our ability to raise this fund in an environment that continues to be very challenging and competitive,” said Adams.
Grotech’s portfolio includes HelloWallet, Invincea, LivingSocial, Logi Analytics, LogRythym, OpenQ, Optoro and Zenoss. GV II’s eight fund round brings Grotech’s total capital under its wing to $1.3 billion.
Visit www.grotech.com for more information.