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Targeted Technology raises major funding to help lure companies to San Antonio
September 9, 2014

Targeted Technology Senior Managing Partner Paul Castella, Ph.D.

By W. Scott Bailey, San Antonio Business Journal

Targeted Technology has closed on its second venture capital fund. The San Antonio-based fund, which focuses on early-stage investments in technology firms, has raised more than $40 million.

"It's significantly larger than the first fund, and most of the money has come from San Antonio," says Targeted Technology Senior Managing Partner Paul Castella, Ph.D., about Targeted Technology Fund II.

Targeted Technology Fund I, which closed in 2009, raised $12 million.

"We really started fundraising in earnest in the fall of 2013," says Targeted Technology Senior Managing Partner Paul Castella, Ph.D., about the second fund. "We closed the fund July 31 of this year."

In addition to investing in early-stage companies, Targeted Technology is recruiting enterprises to San Antonio. One of the most recent scores is Bluegrass Vascular Technologies Inc. The Lexington, Ky.-based medical technology firm has secured $4.5 million in new funding. Targeted Technology was a lead investor in that Series A financing round, and now Bluegrass is relocating its operations to the Alamo City.

Jim Traa, a managing partner with Targeted Technology, says with its new funding and move to San Antonio, Bluegrass Vascular will have an opportunity to pursue more growth opportunities.

"As they develop technology, that's only going to add jobs in San Antonio," Traa says.

 

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