McLean, Va. – Edison Ventures, the New Jersey-based venture capital firm with offices in McLean, Va. said on Tuesday it has closed a new $249 million technology fund.
The fund, known as Edison Venture Fund VII, will make initial investments of $5-$10 million in tech companies with revenue run rates of $5-20 million.
Edison said it already has invested $55 million in 10 companies through the fund, targeting startups in the areas of financial technology, healthcare IT, interactive marketing and e-commerce and enterprise 2.0.
Since its founding in 1986, Edison has invested in 186 companies and completed 127 exits, including 17 IPOs. The company currently counts 59 active portfolio companies.
This article was also published in Potomac Tech Wire.
Press release – http://tinyurl.com/77nk74u
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