New World Leads Big Investment In Data Center Technology Developer

New World Ventures, the venture capital arm of The Pritzker Group, is the lead investor in a big, $90M funding round for a developer of data center technology and services. Phoenix-based IO, which develops modular data center technology, said it raised $90M in a funding led by New World Ventures, which is based in Chicago but has recently been ramping up its Los Angeles investing efforts. IO said that New World Ventures contributed $50M to the round, which was the largest single transaction in the fund's 15-year history. IO also said its prior investors participated in the round. New World Ventures has been among the more active investors in town, and has been increasing its efforts to fund the startup community in Los Angeles over the last year. More information »