FORT COLLINS — Innosphere Fund I, a seed-stage venture-capital fund for Colorado-based clients of Innosphere’s incubator program, has raised $6.4 million.
Managers of the fund based in Fort Collins expect it to be fully subscribed at $7 million during the third quarter of this year.
The Innosphere Fund has a confidentiality agreement with each investor that their names won’t be disclosed to the public, according to Innosphere spokeswoman Emily Wilson.
Innosphere’s tech incubator supports high-growth startup and scaleup companies in the industries of health innovations, life sciences, enterprise software, Internet of Things, hardware, water, energy, transportation, energy and advanced materials. Innosphere’s program connects companies with advisers and makes introductions to corporate partners to accelerate revenue growth and helps with exit planning.
The fund invests in companies with motivated founders who are building enterprises likely to achieve an early exit through a corporate acquisition, and that require smaller amounts of capital to achieve growth milestones.
“As Colorado’s startup and scaleup ecosystem continues to grow, especially in science and high-tech sectors, it’s essential to fund and grow the best companies here,” said Joey Davis, Innosphere Fund’s principal.
Innosphere Fund has closed two investments since it was started, the first in Denver-based Incident Response Technologies Inc. in October 2017, and the second investment in Boulder-based startup Aspero Medical Inc. in July.