G20 Ventures, a Boston-based venture firm launched by partners at Advanced Technology Ventures, has disclosed raising $61.6 million for the firm’s first venture capital fund.
G20’s founders are Bob Hower and Bill Wiberg, who continue to be listed as partners at Boston-based Advanced Technology Ventures—where the pair have each worked for more than a decade.
In November, G20 had disclosed it had raised $37.9 million toward its initial fund.
Investors in the G20 fund, according to the firm’s website, include Actifio founder/CEO Ash Ashutosh; Acme Packet founders Andy Ory and Pat Melampy; Netezza co-founder Jit Saxena; Actifio CMO Mike Troiano; and New England Venture Capital Association executive director C.A. Webb.
Investments already made by G20 include dunwello and Thinking Phone Networks. According to G20's site, the investment focus is on "early-stage, east coast (Boston, NYC, Raleigh), enterprise software, infrastructure and Internet solutions. We prefer technology risk to market risk, and won't invest in 100% consumer-facing businesses."
