Ignition Closes Pair of Funds

Ignition Partners has closed its fourth venture capital fund with $400 million in capital commitments. It also has raised $275 million for its first growth equity fund.

Ignition said the following about the growth fund: “The Ignition Growth Capital Fund is a continuation of the strategy the group announced over a year ago when it raised an $80 million annex to its third venture fund for the purpose of helping just such companies achieve and exploit scale more quickly. Investments from that pool of capital included funding for several acquisition transactions by Seattle-based maritime communications company, SeaMobile; investment in a profitable Seattle-based healthcare services company, Liberty Dialysis; and acquisition of a payment process technology and services company, Valutech, as part of an entrepreneur in residence effort with a Seattle-based industry veteran.”