Lewis & Clark Ventures Closes First Fund at $104 Million

St. Louis Business Journal

Lewis & Clark Ventures, the venture capital firm founded by Tom Hillman, has closed its first fund at $104 million.

That’s about $35 million more than what the firm reported raising in mid-2015.

Hillman recently told the Business Journal that the firm had already closed on one investment with a few others in the works, though he didn’t disclose details.

Hillman announced Lewis & Clark Ventures in January, shortly after he sold his stake in Answers Corp. for an undisclosed amount — Answers was acquired by Apax Partners in a deal worth $900 million. Brian Hopcraft is Lewis & Clark Ventures’ managing director.

The fund is separate from Hillman’s work with FTL Capital and will invest in high-growth companies with typical investments of $3 million to $7 million. The group will focus on startups in sectors such as technology, energy, life sciences and biotech.

It’s also separate from Lewis & Clark’s $25 million fund backed by Express Scripts.

Original Article:  Lewis & Clark Ventures Closes First Fund at $104 Million