Boston-based G20 Ventures is looking to raise USD75 million for its first venture fund. Bob Hower and Bill Wiberg, partners at Advanced Technology Ventures (ATV), filed the necessary paperwork with the US Securities and Exchange Commission on November 20. The Boston Business Journal said that the filing had confirmed an earlier report by Forbes. Forbes reported that Hower and Wiberg were considering to spin out a new venture capital fund under the name G20 Ventures.

The newly-launched G20 Ventures website, however, doesn't name Hower and Wiberg as its investors, the Boston Business Journal said. The firm consists of a group of 20 like-minded technology pioneers, the website said. The Boston address for the G20 fund is also the same as the address of ATV, the report said.

Wilberg told the Boston Business Journal that ATV will continue to work to optimize the value of the significant portfolio of terrific companies in the current ATV funds. The report said ATV last raised a fund in 2007. ATV's eight fund had a size of USD305 million.

G20 Ventures will focus its investments on early-stage enterprise software, infrastructure and Internet soutions businesses in Boston, New York City and Raleigh, Boston Business Journal said.