Activant Capital Group, a Greenwich, Conn.-based global growth stage venture capital firm investing in commerce infrastructure and IoT companies, closed its second fund, at $129m.
Limited partners in Activant Ventures II includes endowments, foundations, and family offices.
Founded in 2013 by Steve Sarracino, Partner, and also led by COO Neeta Singh, Activant Capital Group invests in a wide array of software companies in its sectors, from logistics to heavy industry and inventory analytics, to mobile-first commerce infrastructure. The firm is focused on investing in commerce infrastructure and enterprise Internet of Things (IoT) as well as growth-stage software, data services and internet businesses.
Activant has invested in 18 technology companies since launching with multiple exits for over one billion dollars.
The fund will focus on companies with data-heavy business models, marketplaces, and businesses with strong network effects that utilize machine learning and artificial intelligence, as well as on companies operating in emerging verticals such as warehouse management, logistics, digital marketplaces, and agriculture technology.
Activant Ventures II already made four investments to date.