Monday, May 13, 2013

Grotech Ventures Raises $225M For Investment Fund

Grotech Ventures, one of the most active venture capital investors in the Denver/Boulder/Front Range and surrounding region, has just raised a new, $225M fund, the firm said today, its eighth venture capital fund. Grotech, which is based in Vienna, Virginia, but has a local office in Denver, said Grotech Ventures II has $225M in committed capital, and was oversubscribed by more than 10 percent. Grotech now has more than $1.3 billion under management. Grotech has been an investor in many, local Colorado companies, including LogRhthym and NexGen Storage. The firm's efforts here are headed by Joe Zell. Grotech invests in early-stage, IT companies, including companies in the digital media, social media, cloud computing, enterprise software, security, consumer Internet, and other information technology areas.