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.