Serra Ventures, a central Illinois-based venture capital firm that focuses on investing in Midwestern startups, is launching a third fund worth $50 million, roughly triple the size of its last fund.
Led by Managing Partners Tim Hoerr and Rob Schultz, the investment fund is based at the University of Illinois at Urbana-Champaign’s Research Park. The new fund will invest in approximately 50 startups. Already, about $13 million has been raised, Serra said.
