Dace Ventures Holds Initial Fund Closing Over $70M; Leads Investment in Vitrue, Inc.

Dace Ventures, an early-stage venture capital firm investing the Next Wave of internet-related innovations, today announced the initial closing of its first fund totaling over $70 million. Comprised of leading institutional and individual limited partners, the fund is focused on investing in digital media, consumer marketing and mobile services. Founded by former CMGI President and COO, Dave Andonian, the fund has led four prior investments including: auctionPAL (consumer marketing); CityVoter (consumer marketing); LocaModa (mobile services); and, Panraven (digital media). Dace is also today announcing its newest investment in Vitrue, Inc., becoming the fifth portfolio company of the fund.

"Now is a great time to be launching Dace Ventures, and to be investing in the Next Wave of internet innovations," states Andonian.



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