Grayhawk Capital closes $70M Venture Fund II
Grayhawk, a southwest venture capital firm, announced the closing of its $70M Venture Fund II. Out of that fund, they have made four investments to date, all software related, and two out of four were from Arizona: Contatta $1.4M Series Seed Preferred and appsFreedom $2M Series A. Out of state investments include: Alianza (Utah) $2.5M Series B and HOS (Kansas city) $2.5M Series A
Brian Smith, managing director, shares with AZTB that the firm is actively reviewing deals primarily from the southwest region.
“We will probably look at about 600 opportunities per year,” Smith said, “…we will make about three to five new investments in 2014 with a $3-6M total investment per company. Over the life of the fund we anticipate to make 14-15 investments.”
Where will they invest the money? Smith was clear that innovative software is their primary focus, “We like mobile, security, investing in health care IT, Cloud, enterprise software and business intelligence…ultimately the driver is software.”