The fund has closed with backing from Protective Life Insurance and Hoar Construction and will target seed-stage deals for local startups.
US-based Alabama Futures Fund (AFF) has closed a $25m venture capital fund having secured capital from limited partners including insurance provider Protective Life Insurance and construction firm Hoar Construction.
AFF is targeting early-stage startups that are either situated in the state of Alabama or willing to relocate to the area, and will participate in rounds across a wide range of sectors.
The fund is being managed by VC advisory firm Redhawk Advisory and AF intends to back companies raising seed…
