Arthur Ventures announced Monday that it has closed on two new funds worth a combined $375 million.
The largest, a $225 million core fund, is designed to make new investments in startups, and a $150 million growth-stage fund will be used to make follow-up investments in portfolio companies.
The firm's strategy remains the same, to focus on early-stage B2B tech companies outside of Silicon Valley.
This is Minneapolis-based Arthur's fourth core fund, following a $125 million fund in 2019, $54 million in 2017 and $45 million in 2013.
Overall, the firm now manages $650 million in assets. Its active investments in Minnesota companies include Total Expert, WhenIWork, PhData, Recast, Drip and Nomics.
Co-managing partners for the firm are Patrick Meenan and Ryan Kruizenga. Arthur has eight employees, seven based in Minneapolis and one in Nashville.
