High Alpha, a ‘venture studio’ has raised just over $100m through the launch of its Studio II and its new flagship fund.
The firm’s High Alpha Studio II received $16.65m from previous backer Emergence Capital, alongside new investor Foundry Group. Alongside the funding, Foundry Group partner Brad Feld will join High Alpha’s board of directors.
High Alpha Capital, a seed and Series A venture capital fund, closed on $85m and will support entrepreneurs developing enterprise software startups. The fund is quadruple the size of its predecessor, which closed on $21m in 2015.
Its previous vehicle invested in software startups and scaleups across North America, and holds a portfolio consisting of companies including B2B marketing service Terminus, SaaS optimisation platform Zylo and drone and UAV mapping software DroneDeploy.
The company has also invested into a couple of FinTechs. Its most recent transaction in the space was a contribution to Dwolla’s $12m round earlier in the year. The company supplies developers and organisations with bank transfer networks to help connect banking infrastructure with third-party apps.
The Indianapolis-based firm launches and scales SaaS businesses by combining company building and venture capital. High Alpha creates and launches companies internally as well as partnering with external entrepreneurs and supporting their developments.
Emergence Capital founder and general partner Gordon Ritter said, “Emergence Capital has always invested in leading-edge, disruptive technologies that fundamentally improve the way people work.
“After partnering with this amazing team to create High Alpha Studio I, we are thrilled to double down on their next set of companies that leverage machine learning, AI and coaching networks to dramatically improve human productivity and make the next era of software the most valuable one yet.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
