Arrowroot Capital Raising $50M Investment Fund

Santa Monica-based Arrowroot Capital, an investment firm which invests in software-as-a-service and Internet-based businesses, said in a regulatory filing that it is raising a $50M fund. No details on the fund have been announced by Arrowroot Capital, which did not indicate any limited partners yet committed to the fund. Arrowroot lists such portfolio investments as Zift Solutions, EiQ Networks, 4Tell, and MedNet Solutions. The fund is led by Matthew J. Safaii, formerly of Actua Corp.; Safaii said he led investments in MSDSonline, Parchment, Instamed, and InvestorForce while at Actua.