A North Carolina-based venture capital firm has filed to raise $125 million in a private stock offering, according to a filing with the Securities and Exchange Commission.

Durham-based SJF Ventures filed a Form D with the SEC on Oct. 24. The filing listed a total offering amount of $125 million with $56.8 million remaining to be sold.

The filing said 38 investors are involved with the offering so far. SJF also said approximately $1.4 million will go toward a “first year management fee,” based on the current number of limited partnership interests subscribed.

No other details were offered in the filing regarding the firm’s use of the proceeds.

SJF has invested in over 50 ventures, and its portfolio includes companies such as New York-based MediaMath, Austin, Texas-based Vital Farms, and San Francisco-based Raise.me.

Dave Kirkpatrick, managing director and co-founder of SJF, signed off on the firm’s Form D on Monday. Kirkpatrick earned an undergraduate degree from Duke University in 1982 and an MBA from UNC Kenan Flagler Business School in 1991.

Private companies similar to SJF, which rely on a Reg D exemption, aren’t required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism