Velocity Venture Capital closes $15M Sacramento-area fund
The $15 million fund, aimed at seed and early-stage investments near Sacramento, Calif., about a two hour drive from Silicon Valley, will be Velocity Venture Capital’s second. The firm says it typically makes placements ranging from $100,000 to $3.5 million.
Investments from Velocity’s first find include Freepath, a company working in the presentations market a la PowerPoint; Marquiss Wind Power, a maker of commercial wind turbines; and Razor Audio Solutions, an entertainment company. In all, the firm’s first fund was distributed to 11 different companies.
Velocity is already planning its third fund, which it is planning to be worth $60 million, about four times the size of its second.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.