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Longworth Venture Partners exceeds target for second technology fund, hires new partner

US-based Longworth Venture Partners has announced the final close of its second fund with $115m of commitments, exceeding its original target of $100m.

Longworth also announced the addition of a new member to its team. Peter Roberts, former managing director of BancBoston Ventures, is to become a general partner.

‘We think that the next several years will be a very good time to invest in emerging technology companies,' said Paul Margolis of Longworth Venture Partners. ‘We have the available capital as well as the experienced investment team to take full advantage of this opportunity.'

The second fund will focus on early and expansion stage technology opportunities, with a particular focus on enterprise application software, systems management solutions, IT infrastructure and related services.

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