VC investment fund tallies $40 million

TAMPA — Stonehenge Growth Equity Partners of Tampa held its first close for its new venture capital fund.

Called Stonehenge Growth Equity Fund LP, the fund, which received $40 million, primarily focuses on providing capital to high growth technology and business service companies in Florida and the Southeast. The funds stem predominantly from institutional investors and high net worth individuals, a release states.

The firm typically looks to invest in profitable companies generating more than $3 million in revenue. The target investment, according to the statement, would be between $1 and $5 million.