Venture fund reaches $25 million

NextStage Capital L.P., in Audubon, announced today that it has raised $25 million. Founded in 2006, NextStage Capital invests in "seed" and early-stage technology companies.

The venture fund has provided financing to six software and hardware technology or services companies in the mid-Atlantic region. They are: RCD Technology, Quakertown; Magnify Networks, New York City; HardMetrics, Doylestown; Agilence, Camden; HxTechnologies, Philadelphia, and Orbos, Newtown Square.

NextStage Capital's $25 million investment was led by Ballamor Capital Management Inc., Radnor.

"We had a first closing of the fund in 2006 on something less than $25 million," said Rob Adams, one of NextStage Capital's three managing partners. "Then we raised the balance of it. We had money from the first closing to invest over the last almost two years," he said.