Arthur Ventures reported the completion of Arthur Ventures Growth Fund II, L.P. Arthur Ventures is a new North Dakota-based venture capital company. The fund will allow Arthur Ventures to retain its partnerships and form new ones with leading entrepreneurs. The new fund will also allow the venture capital firm to develop innovative solutions and build high-growth firms that could shape new markets.
Arthur Ventures Growth Fund II is a US$45 million venture fund. The fund brings Arthur Ventures' total assets under management to at least US$65 million. Investors, including Limited Partners, in the fund were a targeted cluster of successful individuals that believed in Arthur Ventures goals. The individuals that help established Arthur Ventures Growth Fund II have excellent track records of business financial success in an extensive variety of industries.
"We believe in the power of entrepreneurship and innovation to transform existing markets and to create new markets. Software is the greatest invention yet that extends human capabilities, and we are grateful to help build enduring companies whose solutions can have such a positive impact on the human condition," said Arthur Ventures co-founder, Doug Burgum.
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