Dace Ventures Raises $70 Million for First Fund - Waltham, MA

Dace Ventures, a new, Waltham-based, venture capital firm focusing on early-stage, Internet-related businesses, on Monday announced that it has raised $70 million for its first investment fund. Dace was founded by Dave Andonian, the former president and COO of CMGI. The new fund has made five investments already, including auctionPAL (consumer marketing); CityVoter (consumer marketing); LocaModa (mobile services); and, Panraven (digital media). Dace plans to increase its first fund's portfolio to between 12 and 15 investments.

http://www.daceventures.com/