Split Rock Partners has closed its second fund with $300 million in capital commitments. The firm has offices in
Split Rock Partners, LLC (“Split Rock”), a venture capital firm focused on healthcare, software, and Internet services, today announced the closing of Split Rock Partners II, LP, raising $300 million from a targeted group of leading institutional investors. Fund II is the successor to a $275 million inaugural fund raised in April of 2005. All of the investors from Split Rock's first fund returned as investors in the new fund.
Split Rock invests in leading early-stage healthcare, software and Internet services companies. In healthcare, Split Rock specializes in medical device opportunities. In software and Internet services, the firm focuses on enterprise software and business and consumer services that leverage the Internet. The firm's primary geographic focus is on companies based in the
“The positive response we received from our investors demonstrates strong support for Split Rock's team and investment strategy,” said Michael Gorman, Managing Director. “Our success in raising this fund is testimony to the talented entrepreneurs and quality co-investors with whom we have partnered. We look forward to building on that foundation with this fund.”
“We are enthusiastic about the opportunities we see in the marketplace and look forward to supporting strong management teams and the development of innovative companies with this capital,” said Jim Simons, Managing Director. “We plan to continue the disciplined investment approach that has earned the confidence of our investors and has served us well in the past.”
Allan Will, Managing Director, noted that “continuity is an important theme for Fund II — the same team will be working together to pursue deals in vibrant sectors and markets where we have enjoyed previous success.” The Split Rock team has developed highly productive partnerships with two medical device incubators in The Foundry (
Split Rock, with offices in