Allos Ventures, a venture capital firm with offices in Indianapolis and Cincinnati, has closed on $52 million for its third fund, Allos III.
The new fund has the potential to support as many as 30 high-growth technology companies across the Midwest, according to the firm. Specifically with the third fund, Allos Ventures plans to invest in up to 18 Series A funding rounds and as many as 12 seed funding rounds. Five percent of the $52 million will go towards seed-stage companies.
The firm is managed by Don Aquilano, John McIlwraith and David Kerr.
“With our third fund, we’re focused on continuing to support high-growth, Midwest software companies, as well as expanding our portfolio to new areas of the Midwest and entrepreneurs,” said Aquilano, also a co-founder of Allos. “The Midwest ecosystem is thriving and has matured significantly since we launched Allos a decade ago. Experienced entrepreneurs and founders with deep subject matter expertise are at the heart of our investments—companies able to scale rapidly and attract top talent from across the country.”
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