Allos Ventures LLC held a first close of its latest venture capital fund Allos III.
Next Level Indiana Fund and Indiana University Foundation Inc. committed to the latest fundraising. First Internet Bank of Indiana founder and CEO David Becker also participated, as well as Collina Ventures LLC managing partner and Lumavate LLC CEO Mark Hill.
Allos III will capitalize early-stage business-to-business software and technology-enabled service companies in the Midwest. The fund will mainly focus on leading series A and B financing rounds for its target companies and participate in smaller funding rounds as a seed stage investor for startups.
The fund's first investment is in online-guided shopping software startup PERQ.