US-based venture capital firm Cottonwood Technology Fund has closed its third fund at $75m with backing from limited partners (LPs) including KPN Ventures and Caterpillar Ventures, on behalf of telecommunications firm KPN and construction equipment manufacturer Caterpillar.
Cottonwood said the new fund has 40 new LPs and it is targeting pre-seed and seed-stage deep technology developers in the southwest US and the northwest of Europe.
David Blivin, managing director at Cottonwood, said: “Many family offices also want to invest directly in our portfolio companies by adding to the next funding rounds as our portfolio companies grow.”
