U.S.-based venture development company Ikove Venture Partners has closed its first venture fund at $10 million.
The new fund, Startup Nursery (SUN) Fund, will be used to launch 10 to 15 early-stage technology companies through its proprietary Startup Nursery.
The SUN Fund will expand Ikove’s outreach to support more early-stage technologies overcome the commercialization gap as well as develop new verticals.
Ikove has raised over $40 million to date, directly into portfolio companies to further boost the technologies and accelerate commercialization efforts. It expects the portfolio value to grow to over $250 million by the end of 2019.