Flywheel I, L.P. Closing at $31 Million

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Venture
Flywheel I, L.P. Closing at $31 Million
By Sante Fe, NM
Jun 29, 2005, 17:45

Flywheel Ventures, a Southwest/Rockies-based early-stage venture capital firm, today announced the final close of its first institutional venture capital fund, Flywheel I, L.P. The $31 million fund, with 75% of committed capital from institutions, will invest in seed and early-stage information technology and physical sciences ventures located primarily in New Mexico, Colorado and Arizona.

Participating investors include national foundations, university endowments, state governments, and prominent family offices including the Kauffman Foundation, New Mexico State Investment Council, the McCune Foundation, Hunt Holdings, the New Mexico Small Business Investment Corporation and the New Mexico State University Foundation.

INFO SOURCES

Flywheel Ventures

FIRMS

Founded in 1999, Flywheel Ventures is a Southwest/Rockies-based seed and early-stage venture capital firm focused on information technology and physical sciences ventures in New Mexico, Colorado and Arizona. The firm matches talented entrepreneurs with market opportunities where Flywheel's capital, entrepreneurial experience and industry relationships help accelerate innovations into profitable companies. Flywheel has offices in Santa Fe, Albuquerque and Silicon Valley.

FUND DETAILS: Flywheel I, L.P.

Focus: Seed and early-stage investments in information technology and physical sciences ventures located primarily in New Mexico, Colorado and Arizona

Stage: seed and early-stage

Size: lead initial investments of $100K-$1M

Industry:

Geography:

Committed Capital: $ 310 million

(Target) $ million

(Cap) $ million

Final Close:

Placement:

Legal:

Team:

Flywheel I, L.P. will be managed by Trevor Loy, founder and managing partner, General Partners Scott Caruso and Kim Sanchez Rael and Senior Associate Chris Traylor. Collectively, the team has founded, managed, advised, invested or otherwise participated in the growth of 50 technology companies, including 12 companies in the Southwest/Rockies region. The team is supported by a nationally recognized Strategic Advisory Board chaired by Dr. Tom Byers of Stanford University and includes seasoned venture capitalists such as David Albin of Natural Gas Partners, Stewart Alsop of New Enterprise Associates, and Erik Straser of Mohr Davidow Ventures.

Investors include: Participating investors include national foundations, university endowments, state governments, and prominent family offices including the Kauffman Foundation, New Mexico State Investment Council, the McCune Foundation, Hunt Holdings, the New Mexico Small Business Investment Corporation and the New Mexico State University Foundation.

Investments:

To date, Flywheel I, L.P. has made three investments in its primary target region.