O'Reilly AlphaTech Ventures (OATV), a venture fund affiliated with O'Reilly Media, said it has officially finished raising its first $51 million fund for early stage investing. It is a small venture firm focused on the internet, a fund run by Josh Kopelman. OATV will invest in areas such as Web 2.0, mobility and telephony applications, location-aware services, open hardware devices, sensor networks and renewable power. The fund's managing directors include Mark Jacobsen and Bryce Roberts. The fund will try to build upon O'Reilly's experience in supporting the work, through its publishing and conference businesses, of engineer inventors who like to hack and modify new technologies.