Source: Bloomberg
Summary
A four-year-old venture capital firm has raised a new fund, which is 60% larger than its second vehicle announced 18 months ago. The firm’s latest fundraise comes amid a downturn in the tech industry. According to the report, the firm’s second fund was announced 18 months ago.
Our Reading
The announcement sounds ambitious.
The firm’s new fund is bigger than its previous one, because that’s what you do when you’re trying to grow. The 60% increase is a nice round number, but it’s not like we haven’t seen this script before. Another fund, another promise of “supporting the next generation of tech leaders.” Yeah, we’ve heard that one before.
Original observation: “Just what the industry needs, more money chasing the same ideas.”
Author: Evan Null
