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New fundraising efforts by Washington State VC’s

November 6, 2005 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

Word on the street is that two Washington state venture capital firms are out looking to raise new funds.

Sources tell me that Voyager Capital http://www.voyagercap.com/index.htm is shopping a proposal to raise up to $200 million, while Northwest Venture Associates http://www.nwva.com/ is looking to pull in about $100 million.

Founded in 1997, Seattle-based Voyager — whose investments include Attenex, Melodeo, GMI and Pipestone — currently manages $265 million.

NWVA, with offices in Seattle and Spokane, manages three funds totaling $172 million. Its investments include Action Engine, MessageGate, Sur La Table and Wireless Services Corp.

Seattle’s Madrona Venture Group http://www.madrona.com/ also is on the fundraising trail, though I previously reported its efforts.

Voyager Capital’s Enrique Godreau declined to comment. Tom Simpson at Northwest Venture Associates could not be reached.

Full Story: http://blog.seattlepi.nwsource.com/venture/archives/100391.asp