Preps Second Venture Fund –

WESTPORT, Conn. – Corporate venture investor Corp. in April launched a $20 million second fund, which is expected to close at the end of October.

The company plans to invest Venture Fund II L.L.C., in about 30 to 50 companies, with each investment ranging between $100,000 and $1 million, said Alan Meckler, chairman and CEO. is an e-business and Internet technology network of Web sites, e-mail newsletters, on-line discussion forums and moderated e-mail discussion lists for Internet professionals. As part of the Web site, the company has a page called Internet VC Watch, which contains daily articles dedicated to the venture capital industry.

Through its venture funds, invests in early-stage content-based Web site businesses serving business-to-business markets that follow the strategy of, but do not compete with it. The company, which has no geographic bias, always is the lead investor and, in some cases, the sole backer in its deals. raised its first vehicle, the $5 million Venture Fund I L.L.C., in April, and it has backed 12 companies with individual investments ranging between $100,000 and $750,000. The company expected the entire fund to be invested or committed by the end of September.

Limited partners for the first fund include institutional investors and high-net-worth individuals, some of whom are returning for the company’s latest vehicle. Additional institutional investors are expected to join the list, as Internet investments in the second fund have sparked more interest, Meckler said. has a 14% stake in the fund, said Chris Cardeu, company president and chief operating officer.