Tech-focused venture house ManchesterStory has pulled in $41m for its latest fund.
The firm has $84m left to register before it hits the $125m goal, according to a filing with the US SEC. It has listed 21 investors, but no placement agent, the filing adds.
It is not clear if the capital raised signals a first close, or when a final close is expected.
The fund will likely follow the firm’s strategy of investing in early stage FinTech, healthcare and InsurTech businesses that have the potential to become leaders.
The Iowa-based firm is led by co-founders Matt Kinley and Dave Miles.
Kinley has 21 years of industry experience having previously worked at Pappajohn Capital Resources. He has been focused on early-stage to growth stage healthcare and tech companies and has played a part in more than 50 investments.
Miles has been an investment professional for the last 29 years, with most of it coming at Miles Capital, an insurance company-focused asset management firm.
Late last year, ManchesterStory led the $5m investment in to lending technology and infrastructure system FinMkt. The firm also took part in the $7m funding of homeowner insurance platform Matic Insurance Services, and the $2m round of insurance data and machine learning platform Groundspeed Analytics.Â
FinTech Global reported last February, that ManchesterStory was looking to raise a $125m vehicle, and a SEC filing stated teh firm had received up to $31m.Â
The fundraise comes as record amounts of capital pour into the venture space in the wake of Softbank’s $93bn fund.
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