PROVIDENCE – Point Judith Capital today announced it has raised $73 million with its most recent fund. The early-stage venture capital firm said it typically will make first-round investments of $500,000 to $3 million and total investments of as much as $6 million in each of its portfolio companies.
Point Judith Venture Fund II’s lead investor is Tudor Investment Corp., an alternative asset management firm with about $15 billion in assets under management. Other investors include limited partners in the firm’s first fund, which debuted in 2001, along with new institutional and individual investors.
The firm also has established a strategic partnership with Tudor “that will provide us the ability to access resources for our portfolio companies that far exceed those of most early-stage venture firms,” said Gina Raimondo, a general partner of Point Judith Capital, who added, “We believe that there are numerous synergies between the firms that will allow us to create substantial value.”
Jim Pallotta, Tudor’s managing director and head of U.S. equity securities, said his company had been seeking an early-stage venture partner for several years.
Point Judith already has made three investments from the new fund, in medical-device maker Novare Surgical; asset-management tracking and decision support software maker Envista Corp; and online music artist development company Music Nation.
In other news, the firm said Sean Marsh has joined Point Judith Capital as a full-time general partner.
Marsh takes the place of Point Judith co-founder Dave Mixer, who will remain involved with the firm as he focuses on the new China Merchants Hidden Jade Partners (www.hiddenjade.com), a Shanghai-based venture firm aiming to give portfolio companies a link to China.
Point Judith Capital is an early-stage venture capital firm focusing on the communications, Internet, health care and information technology sectors. Additional information is available at www.pointjudithcapital.com.
