PHX Ventures Raises $25M Fund

Investors in PHX Ventures Fund II include the following successful software entrepreneurs in Arizona: Heidi Jannenga (WebPT), Matt Pittinsky (Parchment), Gabe Cooper (Virtuous), Chris Ronzio (Trainual), Hamid Shojaee (Savvy Trader), John Fees (GradGuard), Bret Larsen (eVisit), Jacob Findlay (Fullbay), and Mike Kovarik (Attribytes). Other investors include principals from more than 10 top-tier growth equity firms across the US, as well as local software executives and advisors.

Founded by software entrepreneur Gregg Scoresby, PHX Ventures aims to fill a gap in the local software community providing institutional-quality, seed-stage venture capital for high-growth Arizona companies. The fund will lead or co-lead seed rounds of $1 million to $5 million.

PHX Ventures Fund II expects to hold its final close later this year and anticipates capping the fund at $30m. The fund has already made its first investment, which is expected to be announced soon.