Boulder Ventures is raising another $100 million fund to invest in about 15 more early-stage companies over the next three years.
“We’re off to the races,” general partner Peter Roshko said.
The firm has already made one commitment from the fund out of its Washington D.C. office; the fund had its first closing last month and the team will be working a few more months on closing it out, Roshko said.
This fund, the firm’s sixth since founding in 1995, will allow Boulder Ventures to continue its reputation of investing in promising Colorado technology companies, like its existing portfolio companies Rally Software, LineRate Systems and Lefthand Networks to name a few.
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The firm’s D.C. office also opens the door to mid-Atlantic companies as well: one such mid-Atlantic company that Boulder Ventures is working with this year along with Grotech ventures is IntelliNote, a multi-platform note-taking app.
Although Boulder Ventures doesn’t invest thematically, Roshko said, the team has historically invested in enterprise-facing software companies because software is “where all the innovation is happening.”
“The new nature of how software is being built and architected is letting the innovation spread,” Roshko said.
Out of all the many Colorado and mid-Atlantic software companies, enterprise-oriented tech is the firm’s “sweet spot,” Roshko said because “we like to sell products to people who pay money for the products, which is different than what typically goes on in the consumer space.”
To find these enterprise software companies worth supporting, Roshko and founder Kyle Lefkoff, who both focus on Colorado investments, rely on the network of entrepreneurs that the firm has built over the past 15 years to help bring them opportunities. But Colorado companies without an “in” that are looking for Series A funding are always welcome to reach out, Roshko said: ”We have a pretty open door. We are really happy to bring people into the network, meet with them and try to further the ecosystem.”