PITTSBURGH, PA—Investment firm Tecum Capital Management announced that it received a license from the U.S. Small Business Administration (SBA) to operate its third Small Business Investment Company (SBIC) fund. At $240 million, this third fund is nearly fully subscribed. Tecum Capital supports independent sponsors, family offices, private equity funds and management teams to facilitate recapitalizations, buyouts, generational transitions, acquisitions and other growth capital needs in the Rust Belt.
MILWAUKEE/CINCINNATI—Local angel investing group Milwaukee Venture Partners Inc. has invested in AKRU, a Cincinnati-based blockchain real estate investing platform. AKRU raised a total of $2 million in the round, which also included investment from Draper Goren Holm, a global blockchain venture capital studio and fund based in Santa Monica, California, and Vienna, Austria.
MINNEAPOLIS, MN—Twin Cities and Colorado-based investment group Matchstick Ventures closed its third fund focused on pre-seed and seed-range tech startups. At $55 million, it is the group’s largest fund to date.