Core closes fund II

Core Capital Partners has closed on a $200 million venture fund to invest in early and later-stage tech deals.

The Washington, D.C.-based firm focuses on communications, hardware, software and business services.

Core Capital raised about $170 million for its inaugural fund in 1999. More than half of its 28 investments are in companies based in the U.S. Capital region. The firm expects about half of 20 to 30 investments from its second fund will also be in the general Washington area.

Core Capital made a name for itself as an early investor in D.C.-based InPhonic, which launched a $142 million IPO in 2004. InPhonic had raised about $90 million, including a $56 million infusion from Technology Crossover Ventures. Core Capital also backed Columbia, M.D.-based Sourcefire, whose sale to Check Point Software Technologies for $225 million is pending. Sourcefire had raised about $33 million in VC funding from Core Capital, Inflection Point Ventures, Sierra Ventures, New Enterprise Associates and Sequoia Capital.