ANN ARBOR, Mich. – Arbor Partners L.L.C. has begun premarketing a venture capital fund that will target the electronic commerce and Internet sectors.
The firm intends to raise between $50 million and $60 million for the vehicle, which will make later-stage investments, said Managing Director Donald Walker. Active fund raising should begin around the middle of January.
“We are mostly looking for deals with revenue and a market position,” Mr. Walker said.
Arbor hopes to attract limited partners to the new fund from existing investors – insurance companies, state pensions and funds-of-funds. The new vehicle will mandate a $1 million minimum investment from L.P.s.
Fee structure and additional specifics were not available.
The two-year-old firm has made software investments and labels itself as a venture assistance group. Three members of the investment team – Mr. Walker, Richard Eidswick and Richard Crandall – have experience in software, and the fourth principal, Stephen Swanson, runs an investment advisory firm that manages $200 million.