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Arthur Ventures raises USD45m second fund

Arthur Ventures, an early-stage venture capital firm headquartered in Fargo, North Dakota, has closed Arthur Ventures Growth Fund II (AVII).

 
The fund enables Arthur Ventures to continue forging partnerships with leading entrepreneurs to develop innovative solutions and build high-growth businesses that shape new markets.
 
AVII is a USD45m venture fund that follows Arthur Ventures’ 2008 founding fund (AVI). It brings the total assets under management at Arthur Ventures to more than USD65m. Investors (limited partners) in the fund are a targeted group of successful individuals that believe in the Arthur Ventures mission, the power of entrepreneurship, and the rising potential of the region.
 
Investments for AVII will focus on software companies that market their solution to the enterprise information technology, healthcare, agriculture, and energy markets. Similar to AVI, deal sourcing will be concentrated in the Upper Midwest with investments in select companies nationally. AVII will continue to focus on the Arthur Ventures mission, which is to improve the human condition while satisfying the economic conditions that support a continuous cycle of innovation, entrepreneurship, investment, and global growth.
 
“We believe in the power of entrepreneurship and innovation to transform existing markets and to create new markets,” says Doug Burgum (pictured), co-founder and chairman of Arthur Ventures. “Software is the greatest invention yet that extends human capabilities, and we are grateful to help build enduring companies whose solutions can have such a positive impact on the human condition.”
 
Infusionsoft is the first partner business to receive an investment from AVII. Infusionsoft’s purpose is “to help small businesses succeed”, and this fast-growing, award-winning company provides all-in-one sales, marketing, and e-commerce software solutions for small businesses. Arthur Ventures co-invested with Goldman Sachs on this transaction.
 
“Arthur Ventures has been a mission-driven firm since the beginning, and we believe the values we have built upon will continue to attract both visionary entrepreneurs and investors,” says Burgum. “We are both excited and humbled that such an accomplished group of successful business leaders believe in our mission and have invested their trust in our team. And we look forward to partnering with leading entrepreneurs who are passionate about changing the world and who also align with the values of Arthur Ventures.”
 
Arthur Ventures’ initial investments in early-stage companies range from USD250,000 to USD3m and will often serve as the lead investment. Periodically, Arthur Ventures will invest in later-stage companies, but only in syndication with other investors. Arthur Ventures generally focuses its early-stage investments in the Great Plains and Upper Midwest.

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