Boise-based venture capital firm Highway 12 Ventures announced it's not going to continue raising money. Highway 12 was one of the few intermountain Western VC operations that could claim to be doing major investments.
“The venture capital model is broken. Moreover, access to capital for emerging companies has increasingly become clogged with regulatory roadblocks,” Simpson added, in an email.
Here is additional information found in a recent Wall Street Journal online story:
Highway 12, which is affiliated with Village Ventures, raised $100 million across two funds that closed in 2001 and 2007. It backed a couple dozen start-ups in a variety of industries, mostly in Idaho, Colorado and Utah.
Its active portfolio includes medical patient-based social network Alliance Health Networks Inc., which raised $11 million last month; online advertising start-up Lijit Networks Inc., which secured $10 million in April; 4G router company CradlePoint Technology Inc., which raised $7.5 million in December; and robotic ball developer Orbotix Inc, which received $5 million in April.