Durham VC firm IDEA Fund Partners raises $2.26M from 30 investors

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IDEA Fund Partners will have more cash to go shopping with for investments, having closed on $2.265 million in new funding.

The cash for the IDEA Opportunity Fund came from 30 investors, according to an SEC filing.

Minimum investment was $25,000.

The first money was secured for the fund on Oct. 16.

IDEA Fund Partners is one of the most active early-stage VC funds in the Triangle. It most recently invested in Raleigh-based Finmark.

It invests in early-stage companies, usually from $500.000 to $1 million, leading or co-leading a seed round. In all but one instance, Idea Fund invested as part of a syndicate of other investors. “We invest with angels, angel groups, and other venture capitalists,” cofounder John Cambier recently told WRAL TechWire. “Over the years, we’ve co-invested with over 70 groups.”

About half of IDEA Fund’s early-stage investments have been in North Carolina companies, half from elsewhere. In NC it invested in Durham companies Argyle Social and Automated Insights, Raleigh-based Axial Exchange. IDEA Fund was also an early investor in Morrisville e-mail marketing firm iContact, which was acquired by Vocus. Also, Spiffy, and Pendo and wedpics.

Original Article Source: WRAL TechWire