Album VC raises $75m

The Utah-based venture capital firm, formerly known as Peak Ventures, closes its third technology fund.

Album VC, once known as Peak Ventures, has re-branded with the final closing of its third fund, Peak Ventures Fund III, at $75 million. The North America-focused technology fund met its $75 million target and surpassed capital raised by its predecessor, Peak Ventures Fund II, which closed in October 2016 at $55.22 million.

Founded in 2013 as Peak Ventures, Album VC will continue to invest in early-stage technology companies throughout the North America, Latin America and Asia-Pacific regions. The firm closed its debut fund, Peak Ventures Fund I, in June 2014 at $21.81 million.