Osage Venture Partners is pleased to announce the final closing of Osage Venture Partners III, exceeding its target fund size by 10 percent to reach $66 million. Osage Venture Partners III continues the strategy executed in Osage Venture Partners II, investing exclusively in early-stage enterprise software companies in the Mid-Atlantic region.
Osage Venture Partners III represents a more than 50 percent increase in capital over Osage Venture Partners II, a $40 million 2005 vintage fund. All Osage Venture Partners II limited partners have invested in Osage Venture Partners III, and were joined by a number of new limited partners, including institutional investors such as the economic development authorities of both Pennsylvania and New Jersey.
“While the venture fundraising environment remains difficult,” said Robert Adelson, managing partner, “our fundraising success reflects the excellent prospects in the enterprise technology sector, the strong team we have built, and the top tier performance of Osage Venture Partners II.”
Nate Lentz, managing partner, added, “The Mid-Atlantic region provides a wealth of great entrepreneurs and exciting innovation in enterprise software, but faces a lack of early-stage financing to help those companies grow. We are very excited to have new capital to deploy and feel we are well positioned, given our focused portfolio of enterprise technology companies, to capitalize on the wave of innovation in the enterprise sector, particularly here in the Mid-Atlantic region.”
Osage Ventures III has invested in five companies since its initial closing in early 2011: Collections Marketing Center, provider of an adaptive collections platform for creditors; Pneuron, developer of a unique and powerful processing network to address the challenges of distributed data, applications, and infrastructure; Identropy, developer of the SCUID platform, a fast, cost-effective, cloud-based identity and access management solution; Medallion Analytics, provider of web-based solutions for the mortgage industry to increase control over compliance and cost across the mortgage closing process; and Canvas Solutions, which offers an easy, fast, and economical way for businesses to find, customize, and create mobile apps.