Velocity Venture Capital Closes $15 Million Second Fund

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Velocity Venture Capital, a venture capital fund that invests in technology companies in the Sacramento, Calif., area, has closed its second fund, with $15 million raised, and is preparing for its third fund with a target fund size of $60 million.

The Velocity fund management team plans to complete its Fund II portfolio by adding up to three more portfolio companies for a potential total of 14 investments in California's capital region. Investments have ranged from $100,000 to $3.5 million and include Folsom, Calif.-based Marquiss Wind Power, which sells its patented AeroPoint ducted wind turbine to the commercial and industrial building sectors of the global economy.

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