Flywheel Ventures raising fund two
Flywheel Ventures is seeking $35 million for its second venture capital fund, according to a regulatory filing. Flywheel raised $32.5 million in commitments for its first fund, which closed in 2005.
No commitments to the new fund have been disclosed.
The Sante Fe, N.M.-based firm invests in seed and early stage information technology and physical sciences companies in the Southwest and Rockies regions.
Recent investments include Lingotek, a Salt Lake City-based developer of collaborative translation technology.
In January, the firm achieved an exit on Groople Inc., an Englewood, Colo.-based provider of Web-based group travel services. The company, which had raised more than $23 million in funding, sold to Short’s Travel Management for an undisclosed sum. —Erin Griffith
NEA raises nearly $2.5B
New Enterprise Associates wrapped up its 13th fund with nearly $2.5 billion in capital commitments. A regulatory filing from late last year had shown that the firm had $2.45 billion committed from 189 accredited investors, including about a 1% commitment from the general partnership itself.
NEA raised $2.5 billion for its previous fund in 2006.
Almaz raises $30M
Almaz Capital, a venture firm focused on early stage tech opportunities in Russia and the Commonwealth of Independent States, has received a $30 million fund commitment from the European Bank for Reconstruction and Development. It had held a $60 million first close last year, with Cisco Systems as its anchor LP.