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Arkansas fund to invest $4.5m in Petra Capital.

The Arkansas Development Finance Authority said its Arkansas Institutional Fund would invest $4.5 million in Petra Growth Fund II, managed by Petra Capital Partners of Nashville, Tenn.

Petra Capital Partners will seek investment opportunities in growing Arkansas companies in the health care business and information services sectors, the ADFA said.

"Our team worked closely with Petra Capital Partners to make sure Petra and the Arkansas Institutional Fund receive full benefit of the SBA leverage available to their fund," ADFA Vice President Gene Eagle said. "By utilizing the SBA's venture capital program Petra will be able to more than double the available capital they have to invest."

Petra Capital Partners targets provider services, information technology and outsourcing companies that lower costs and improve the quality of outcomes for the health care industry. The company also invests in business process outsourcing companies that use technology and skilled labor to lower costs and improve efficiency.

The Petra Growth Fund II totals $160 million.
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Title Annotation:BANKING & FINANCE
Author:Riggin, Amy
Publication:Arkansas Business
Date:May 26, 2008
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