Wednesday, September 2, 2009

Flywheel Kicks Off Fundraising Effort

New Mexico-based Flywheel Ventures, a venture capital firm that invests in seed and early-stage information technology and physical sciences firms in the region, is on the prowl for $35M in a new fund. According to Flywheel, in a letter to the fund's supporters, the new fund--Flywheel II, LP--will be the firm's fourth fund, but only the second institutional fund raised by the firm. Some of Flywheel's existing investments include Boulder-based Filtrbox, Provo, Utah-based Lingotek, New Mexico-based MIOX, and Denver's Trackvia. Flywheel's General Partners are Trevor Loy, Scott Caruso, and Kim Sanchez Rael.