Durham-based Idea Fund Partners and Asheville-based Avadim Technologies have raised additional capital, according to securities filings.

Here are the details as reported by North Carolina Business News Wire:

  • Durham-based VC firm Idea Fund Partners raises $105,000

Idea Fund Partners, a Durham-based venture capital firm that invests in companies has raised $105,000, according to a filing Monday with the Securities and Exchange Commission.

Idea Fund has raised the full $105,000 from six investors in equity, pooled investment fund interests, and series 2 interest.

The form was signed by Lister Delgado and John Cambier, both managing partners of Idea Fund Partners

The company, formed in 2016, is categorized as a pooled investment fund, specifically a venture capital fund.

Idea Fund Partners invests in early stage companies, specifically those up to $5 million in revenue.   The company looks for great management in a company with potential for leadership through the use of new technology or business models.

The company typically invests in technology companies headquartered in North Carolina and Florida, as well as within the Southeast. They are specifically focused on investing in new information technology infrastructure, materials technologies, medical devices and diagnostics and software firms.

Some of the company’s investments include Spiffy, CloudTags, Automated Insights and Switchboard. The full listing is here.

This is a new notice with the first date of sale on May 26, 2016.

None of the money will go toward executive salary, and the offering is not being made in conjunction with a business combination transaction. There is no minimum investment accepted from any outside investor.

  • Avadim Technologies raises an additional $1.2 million in equity

Avadim Technologies Inc. raised another $1.2 million in equity financing, according to a filing with the Securities and Exchange Commission.

The company filed a Form D, signed by President David Fann, on Feb. 9. The total offering amount represents the price of 285,480 shares at $4.25 per share.

After several successful quarters and reports of record revenue numbers, it is rumored that the private company is preparing for an initial public offering.

Avadim Technologies raised more than $1.2 million in equity financing in January, following $3.2 million in private stock offerings in November. The company continued to raise financing throughout 2016.

The Asheville-based life sciences company is one of the fastest-growing companies in the U.S. and ranked No. 234 on Inc. Magazine’s 2016 Inc. 500 list.

On Jan. 31, Avadim announced Joseph F. Renzulli, II as chief medical officer of the company.

“We are extremely please to have Dr. Renzulli take on the role of CMO of the company. Our organization is expanding rapidly, and with the appointment of a CMO we have reached another milestone for our company,” said CEO Steve Woody in a press release.

Founded in 2007, Avadim sells specialty skin hygiene products to health care providers and consumers. The company plans to offer products in major drugstores such as CVS and Walgreens by the end of 2017.