Fundraising

LPs include Allina Health System, Bernick's, Fifth Third Bank, FR Bigelow Foundation, MSP Equity Fund and Shakopee Mdewakanton Sioux Community.

Under the no-action guidance letter for rule 506(c), funds will be allowed to assume that investors who can write a check to cover the minimum standards for accreditation meet the statute’s wealth thresholds.

Shine Capital is seeking to raise $200m for its third fund, less than three years after quickly raising its sophomore fund.

The target is $5 million.

The capital will accelerate development of a grid that supports economic growth, reduces customer costs, helps meet climate goals and ensures energy security.

The fund will support seed and Series A-stage, tech-enabled ventures in the sectors of energy, agriculture and mobility.

ACF2’s investors include the Ford Foundation and the Rockefeller Foundation, along with other pensions, corporations, endowments, foundations, and family offices.

'Rather than just being a venture shop we see ourselves as a mini KKR or a mini Blackrock, bringing the same philosophy to each of these investing principles,' says co-founder Prasanth Chilukuri.

Also, Homegrown Capital has just closed its debut fund at $17.2 million, falling short of its $20 million target, as per PEI data.

NEXT Fund III’s investors include State Small Business Credit Initiative Ohio, institutional and private investors.