Arthur Ventures, an early-stage venture capital firm based in Fargo, North Dakota, said Tuesday that it has raised $45 million for Arthur Ventures Growth Fund II. The fund will be used by Arthur Ventures to forge partnerships with entrepreneurs to develop innovative solutions and build high-growth businesses that shape new markets.
FARGO, N.D.–(BUSINESS WIRE)–Arthur Ventures, an early-stage venture capital firm headquartered in Fargo, North Dakota, today announced the close of Arthur Ventures Growth Fund II, L.P. (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 $45 million venture fund that follows Arthur Ventures’ 2008 founding fund (AVI); it brings the total assets under management at Arthur Ventures to more than $65 million. Investors (i.e. 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. The individuals and families that have supported this fund have exceptional track records of business success in a wide variety of industries.
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,” said Doug Burgum, 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,” said James Burgum, co-founder and managing partner at Arthur Ventures. “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 $250,000 to $3 million 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.
About Arthur Ventures
Founded in 2008, Arthur Ventures is an early-stage venture capital firm headquartered in Fargo, North Dakota with an additional office in Minneapolis, Minnesota. AVII investments include Infusionsoft. AVI investments include Altravax, Intelligent InSites, LiquidCool Solutions, Loyalty Builders, Preventice, and Workface. Additional information on Arthur Ventures can be found at www.arthurventures.com.