Arboretum Ventures is closing its third investment fund with capital commitments totaling $140 million. The venture capital firm initially planned to raise $125 million for the Arboretum Ventures III.
About half of the funding came from investors in Michigan, including state-backed Venture Michigan Fund II, adds Detroit Free Press. The firm, which intends to use its new fund to invest in 15 companies, has already made three investments, including one in a start-up firm in Michigan.
Click here for the release from Arboretum Ventures.
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