FORT COLLINS — Innosphere Fund I LP, the venture-capital arm of startup incubator Innosphere, has raised an initial $3 million of a planned $7 million private equity offering.
The raise was reported in a Regulation D filing with the U.S. Securities and Exchange Commission, Feb. 9. The fund accepted minimum investments of $250,000.
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Innosphere CEO Mike Freeman could not be reached for comment, but he told BizWest in September 2016 that the fund would seek to make early-stage investments of $250,000 to $500,000 in companies that are clients of the incubator. Innosphere Fund I LP is a separate entity from the nonprofit incubator, which is based at 320 E. Vine Drive in Fort Collins.
“We think that’s going to be important for startups applying to the Innosphere nonprofit program,” Freeman said in September. “We’re really filling an important gap in financing for the companies that do get funded.”
Innosphere merged with Boulder-based Innovation Center of the Rockies, effective Jan. 1. The two organizations joined forces under the Innosphere flag, with ICR’s assets being transferred to Innosphere.