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US Ironside Ventures launches third fund 05/12/2003. Source: AltAssets. 
 Ironside Ventures has launched its third venture capital fund. The fund is targeting $150m and will invest in IT services, systems, software and components markets.
Ironside was initially an alternative investment group for international financial services firm Manulife. The venture firm spun out of Manulife with a $140m fund in which Manulife was the sole limited partner in 2000. Ironside’s second fund closed on $25m later in 2000 and included commitments from outside institutional investors.
Ironside’s new fund will invest approximately $6m to $8m per transaction and aims to have a total portfolio of between 20 and 25 companies, according to a report by Venture Wire. Ironside invests in US-based companies with a specific focus on the east coast.
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