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New Atlantic Ventures, an investment firm based in Reston, has raised $42.5 million for a new investment fund that will total $125 million when complete.
The new fund was disclosed in a Securities and Exchange Commission document filed just after Christmas. John Backus, the firm’s managing director, declined to comment, citing SEC regulations that prevent investors from speaking about fundraising.
New Atlantic Ventures funnels seed and early-stage capital to upstarts in such areas as mobile, e-commerce, health care, security and education.