Cultivation Capital raises $25.5 million toward new tech fund

Cultivation Capital is more than halfway toward raising a new $50 million technology fund, and the fund could grow to as large as $100 million.

The St. Louis-based venture capital firm has raised $25.5 million from 14 investors for the fund, according to a Securities and Exchange Commission filing.

It has reserved the right to offer up to $100 million, according to the filing.

The firm added Heather Wood, a former executive with Charter Communications, Suddenlink Communications and Cequel III, as a general partner. She is the first female to become a general partner at Cultivation Capital.

Already this year, Cultivation Capital has reported raising more than $42 million for two other investment funds — its second tech fund and its Life Sciences II fund.

In recent weeks, a pair of the firm’s portfolio companies have been sold: medical device startup Veniti for $160 million and DealCloud for an undisclosed amount.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch

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