Monday, November 23, 2009

vSpring Opens Third Fund, Raises $700K

Salt Lake City-based venture capital firm vSpring Capital appears to have kickstarted efforts to raise its third fund, vSpring Partners III, L.P., according to a regulatory filing by the firm. According to the recent filing, the firm has now raised $700,000 from 4 investors for its new venture capital fund. No target size for the fund was given. vSpring is currently investing vSpring II, which was sized at $85 million. The filing indicates that Paul Ahlstrom, Ed Ekstrom, Dinesh Patel, and Scott Petty are managing the new fund, and are most likely the investors in the initial funding.