PHX Ventures Raises $25M Fund to Invest in B2B Software Companies
Summary
PHX Ventures, a Phoenix, AZ-based seed-stage venture capital firm focused on investing in B2B software companies in Arizona, announced its second fund, with $25.4m commitments to date. Investors in PHX Ventures Fund II include the following successful software entrepreneurs in Arizona: Heidi Jannenga (WebPT), Matt Pittinsky (Parchment), Gabe Cooper (Virtuous), Chris Ronzio (Trainual), Hamid Shojaee (Savvy Trader), John Fees (GradGuard), Bret Larsen (eVisit), Jacob Findlay (Fullbay), and Mike Kovarik (Attribytes). Other investors include principals from more than 10 top-tier growth equity firms across the US, as well as local software executives and advisors. Founded by software entrepreneur Gregg Scoresby, PHX Ventures aims to fill a gap in the local software community providing institutional-quality, seed-stage venture capital for high-growth Arizona companies. The fund has already made its first investment, which is expected to be announced soon.