Phoenix Venture Partners raises $58.5m

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Phoenix Venture Partners, has raised $58.5 million for its Phoenix Venture Partners II, according to an SEC filing. The San Mateo-headquartered firm began fundraising in 2015 with an undisclosed  target.

Its previous fund raised $57.95 million in 2011.

Investors that committed to Phoenix Venture Partners II include the New Mexico State Investment Council.

The fund will target venture capital opportunities in a diverse number of sectors in North America.