LOUISVILLE, KY (May 10, 2002) – Chrysalis Ventures, Kentucky’s largest venture capital firm and a leading source of venture capital in the Southeast and Midwest, announced today that it has concluded fund raising for its fourth, and largest, venture capital fund. The $143 million fund attracted a variety of new institutional investors from the pension, endowment, foundation, insurance, fund of funds and banking sectors.
Founded in 1993, Chrysalis invests primarily in early-stage companies in the business services, information technology, media and entertainment, telecommunications, financial services and healthcare sectors.
Chrysalis’ new fund will make private equity investments in emerging high-growth companies in the Southeast and Midwest. The fund will invest in both early-stage companies and in later stage companies seeking follow-on venture financing. Chrysalis’ prior funds have invested in 30+ companies. The new fund plans to invest in approximately 25 companies over the next four years. Initial investments will typically range from $1.5 to $2.5 million per company, with follow-on financing available to fund growth. The fund will be managed by Chrysalis’ three managing directors: David Jones, Jr., Bob Saunders and Irv Bailey.