Serra Ventures has raised $32.4 million to date for its Serra Capital III, per a SEC filing. The Champaign-headquartered firm has set a $50 million target and began fundraising in 2016. The SEC filing did not disclose whether the capital raise constituted a final or interim close.
Its previous fund raised $17.3 million in 2015.
The fund will target venture capital opportunities in technology, media, and telecommunications sectors in the United States.