PRINT THIS PAGE Trillium Group launches New York venture capital fund20/05/2004. Source: AltAssets. 
 US Trillium Group has launched Trillium Lakefront Partners III Fund, a venture capital fund designed to provide business-building capital to upstate New York companies. The fund has already raised in excess of $50m and is targeting a minimum of $75m.
'An upstate New York venture capital fund of this magnitude is rare, and clearly illustrates the value of regional collaboration,' said Frank Strong, managing partner of Trillium Group. 'There are numerous companies in upstate New York that, with help from this fund, will be in a position to grow beyond their current limitations. Trillium Group is proud to introduce such a vital resource to upstate New York.'
A number of regional business leaders led by the Rump Group have stepped forward as initial investors. New York State comptroller Alan Hevesi, sole trustee of the $115bn New York State Common Retirement Fund, has also committed to a minimum of $25m in matching funds.
'This investment with Trillium is part of our targeted programme to invest state pension funds in New York State companies,' said Hevesi. 'Working with Trillium, we are confident that we can produce excellent returns for the pension fund, while also building the state economy and creating jobs.'
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