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(From Financial News (Daily))
Pentech, the new venture capital firm focusing on early-stage technology investments, has closed its first fund ahead of target at [pound]22m ('35m) after a [pound]5m commitment from the European Investment Fund, the European Union's specialist venture capital institution.Pentech is one of only a handful of venture capital firms that focus exclusively on software technology. It launched its funds at a time when others were retreating from that sector en masse, and also in an extremely difficult climate for fundraising.
Its founders say Pentech has an advantage over other early-stage private equity firms because it is staffed by entrepreneurs rather than people with a financial ...