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United States : BLUETREE VENTURE FUND owns $10M to invest towards $30M goal

May 10, 2014

Pittsburgh based BlueTree Venture Fund has $10.2 million to invest toward a $30 million.

Catherine Mott, a managing partner, declared. BTVF is focusing Series B investments in information technology and life sciences companies within a 250-mile radius of Pittsburgh. The fund is planning to partner with venture capitalists, economic development groups and angel networks. About half of its investments are supposed to be in western Pennsylvania companies.

Mott stated We have to go where the best deal is. Having said that, if you look within a 250-mile radius, Pittsburgh has the richest amount of opportunities for deal flow because of all the support agencies and the incubators.

Mott further added that BTVF has gained funding through Pennsylvania s Commonwealth Financing Authority for a three-to-one match. There are 28 limited partners, each investing a minimum of $250,000.

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Source: TendersInfo (India)

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