Plymouth Venture Partners Fund II makes first investment, looks to reach $30M in size

Plymouth Venture Partners Fund take two is now in action, making the first investment for the Ann Arbor-based venture capital firm’s second fund.Plymouth Management Company invested in Lansing-based IDV Solutions, which creates business intelligence software called Visual Fusion. It’s the first investment of what Jeff Barry, partner of Plymouth Management Company, expects will be 20 deals in growth-stage companies over the next 3-4 years for this fund.”We expect to do 1-2 more investments before the end of the year,” Barry says.The 7-year-old VC firm now has five employees and two interns after adding a new partner over the last year. So far the firm has raised $16 million for Plymouth Venture Partners Fund II, which it expects to grow to $30 million in size. The company invests in second-stage, Michigan-based firms that are creating scalable technologies in areas like software, medical devices, or advanced manufacturing. Some of its previous investments include Accuri Cytometers, Incept BioSystems, and Janeeva.Source: Jeff Barry, partner of Plymouth Management CompanyWriter: Jon Zemke