Indianapolis-based venture capital firm Allos Ventures has begun raising funds for its fourth and largest fund to date, the $75 million Allos IV.

On Wednesday, the company announced the first closing of Allos IV, with investors including Indiana Next Level Fund, 50S Capital and First Internet Bank of Indiana, as well as a number of technology industry entrepreneurs and executives of the Fortune 500.

“We will start investing in Allos IV right away,” said David Kerr, one of Allos Ventures’ three managing directors. “We are looking for companies right now and are coming across companies that we could invest in.”

Kerr declined to say how much Allos IV has raised so far, citing U.S. Securities and Exchange Commission regulations.

But in a December filing with the SEC, Allos revealed that it plans to raise $75 million for an Allos IV fund. At the time of this filing, Allos had not raised any money for the fund. As of Tuesday, the company had yet to file an updated disclosure revealing how much it had raised to date.

Kerr said Allos IV will target the same type of investments as his previous three funds: Midwest-based, early-stage, business-to-business software companies. Allos primarily acts as a lead investor in Series A funding rounds, but it also participates in smaller seed funding rounds for startups.

Allos Ventures was founded in 2010. To date, it has invested in more than 40 growth companies, making it one of Indiana’s most active venture capital firms. Allos raised $23 million for its first fund, Allos I, in 2010; and $40 million for his second fund, Allos II, in 2013. He raised $52 million for Allos III in 2020.

The company’s previous investments have included numerous local businesses, including Indianapolis-based Lessonly, which was acquired by Seismic in August; Fishers-based Emplify, which was acquired by 15Five in April; Indianapolis-based Aprimo, Codelicious, Docket, Encamp, and OneCause; 120Water based in Zionsville; and Carmel-based Authenticx.