New fund expands its investments into the Mid-America Mountain Plains region focusing on B2B SaaS, Cleantech, and Medtech Startups
By: Colorado BioScience Association Date: 10/05/2021
Innosphere Ventures announced the launch of its second venture capital fund, Innosphere Ventures Fund II (Fund II), that focuses on leading early-stage investments for companies who are driving innovation in B2B SaaS Software, Cleantech, and Medtech sectors. Fund II will make pre-seed, seed, and series A investments into more than 25 early-stage startup companies located in the Mid-America Mountain Plains region.
Backed by an experienced Limited Partner base of leading foundations, family offices and notable individuals who want to see startups succeed, Fund II will continue Innosphere Ventures Fund’s strategy of leading investments and guiding entrepreneurs with their extensive operator knowledge and industry experience.
Fund II General Partner, John Smith, leads the Fund’s B2B SaaS software practice and has over 30 years’ experience founding and building software businesses – taking them from scratch to over 100 million dollars in annual revenue. Now he’s a venture capitalist, working hands-on with Fund II’s portfolio companies guiding them from startup to a successful business.
“The tailwinds of digital transformation and the disruption caused by COVID-19 have dramatically accelerated the growth of new B2B SaaS opportunities, and with SaaS company valuations being at an all-time high, now is the time to build a B2B SaaS business,” said Smith. “I enjoy working with entrepreneurs who have a deep understanding of their market and the mettle to drive their company to success.”
“The operator’s perspective we’ve gained from having Innosphere Ventures as an investor is invaluable in helping us build the best health platform for individuals and healthcare professionals,” said Dave Korsunsky, founder of Fund II portfolio company, Heads Up Health. “Their investment positions us to lead the digital health analytics transformation.”
Leading Fund II’s investments into Cleantech and Medtech companies is General Partner Mike Freeman, an experienced investor in guiding high-tech startups to successful outcomes. “I look forward to backing the best technical founders who are building technologies-that-matter in markets-that-matter such as energy and medical applications,” said Freeman. “We invest in startups tackling global technology trends such as the ‘electrification of everything’ and the digitization of health care.”
Recent reports on venture capital trends published by Innosphere Ventures details the increasing number of startup companies and capital in the Mid-America Mountain Plains region. However, a majority of that capital comes from out-of-state investors. For example, while an impressive $3 billion has been invested in Colorado startups beginning in January, 2021 through the end of the year’s second quarter, nearly 95% of that capital comes from out-of-state investors. “The lack of locally headquartered venture capital funds present excellent opportunities for Fund II investors,” said Freeman. “By helping advance new technologies into startup ventures, we’re improving capital access and the overall economic health in our region.”
“The health of the American economy is at the front of our mind and we are passionate about it. We believe that our innovative companies in the Mountain Plains region go unnoticed due to the excessive concentration of venture capital that goes into the United States coasts, and that’s where we come in,” said Smith. “Innosphere Ventures is dedicated to ensuring that promising entrepreneurs in our targeted sectors have accessible capital to fuel their growth, that’s how these young companies will start creating jobs and powering the economy.”
For entrepreneurs, technical founders, and CEOs seeking pre-seed or seed funding, please visit www.innospherefund.com to submit a pitch deck for your B2B SaaS, Cleantech or Medtech startup company.