IDEA Fund Partners is ramping up to pour more capital into early-stage ventures.
The Durham a venture capital fund, which is affiliated with entrepreneurial organization NC IDEA, has raised $8.1 million for its latest fund, according to securities filings. A total of 16 investors participated in financing for IDEA Fund II, which launched the fundraise on Aug. 2.
IDEA Fund focuses on early stage companies – most of its investments have been in pre-revenue companies. Previous investments include Durham companies Argyle Social and Automated Insights as well as Raleigh-based Axial Exchange. IDEA Fund was also an early investor in Morrisville e-mail marketing firm iContact, which was acquired last year by Vocus.
