Mequon-based venture capital firm Capital Midwest Fund has closed on $41 million worth of capital commitments for its fourth fund, Capital Midwest Fund IV L.P.
The firm is targeting $100 million total for the fund, which would make it CMF’s largest fund to date.
CMF generally focuses its investments on revenue-generating technology companies in the central United States. The CMF IV fund will put a particular emphasis on environmental, social and governance and diversity and inclusion.
Some of the firm’s existing Wisconsin investments include PegEx,AIQ Solutions, Harqen and OnKol.
CMF IV is managed by Daniel Einhorn, Alvin Vitangcol and Michael S. Harper. The firm said more than half of the investors are returning investors but the fund does include new institutional investors.