A local venture capital firm called Lavrock Ventures has raised more than $20 million for its first fund and is planning to raise $30 million more, reports the Washington Business Journal. An SEC filing filed in early September reports that the firm aimed to raise $50 million.

According to the company’s LinkedIn, the venture firm, based in McLean, Va., was founded last year and will mainly focus on “post-seed and Series investments” for startups in cybersecurity, govtech and enterprise (or B2B) software.

Last year, the firm participated in an $11 million Series A for local telemedicine startup Avizia, according to Yahoo News.

READ FULL ARTICLE HERE