Dundee Venture Capital, an investment firm based in Omaha, Nebraska, has raised $20 million for its third fund and is looking at St. Louis and Kansas City for potential deals.
The fund is expected to grow to $30 million, according to Dundee officials.
The fund will be deployed into seed and early-stage investments targeting e-commerce, business-to-business Software-as-a-Service (SaaS) and consumer-network focused startups in the Midwest region.
More than $257 million was invested by venture capitalists into Missouri companies in 2015, the highest single-year total since 2001, according to a MoneyTree report. In the first half of this year, VC firms invested $98.6 million in Missouri companies.
Read more: St. Louis Business Journal