MadDog Ventures said April 23 that its first venture capital fund raised $26.7 million, exceeding its $25 million target. MadDog, of Birmingham, Michigan, invests in companies that are developing and marketing cloud-based business applications.
BIRMINGHAM, Mich.–(BUSINESS WIRE)–MadDog Ventures today announced the successful closing of its first venture capital fund, Mad Dog Venture Fund I, L.P. (“Fund I”). MadDog Ventures is a venture capital firm that invests in companies that develop and market cloud-based business applications that disrupt existing industry models and help monetize underutilized information.
Fund I raised a total of $26.675 million, exceeding its goal of $25 million.
“We believe that the successful application of technology to solve compelling problems in new ways is the key that unlocks unprecedented value while also benefitting the world as a whole,” said Peter Karmanos, Jr., General Partner and Fund Manager. “We look to partner with companies and founders across all sectors and startup stages who share this belief and who are passionate about solving industry problems in compelling ways.”
The MadDog Ventures team combines a wealth of management, strategic and operational expertise across multiple industries and disciplines. The firm’s unique venture operator model improves growth prospects by providing the critical resources at the right time across the key phases of the venture tech-startup lifecycle. By providing a full spectrum of support, including funding with strategic counseling on all operating facets of the business—management, software development, sales, marketing and administration—the MadDog Ventures partnership with tech startups enhances success in the markets they serve.
MadDog Ventures is a venture capital firm that invests in companies that develop and market cloud-based business applications that disrupt existing industry models and help monetize underutilized information.
Fund Managers and General Partners: Peter Karmanos, Jr., Laura Fournier, Robert I. Schostak; General Partners: Bob Cell, Paul Czarnik, Mark Hillman.