Enterprise capital agency Homebrew is targeting $50 million for a new fund, in keeping with a brand new submitting with the U.S. Securities and Change Fee.
The submitting comes as a little bit of a shock contemplating that Homebrew practically two years in the past mentioned it was pursuing a extra stage-agnostic evergreen model that might be funded solely by Satya Patel and Hunter Walk, Homebrew’s normal companions. However many companies increase a couple of fund at any given time to focus on explicit alternatives; for instance, some early-stage companies increase a second, opportunity-focused fund as properly to complement their important automobile.
TechCrunch reached out to Stroll for remark relating to the brand new submitting however he mentioned he was not capable of say something publicly presently.
In March of 2022, Homebrew mentioned it could have an open-ended fund construction with no termination date.
The San Francisco-based agency, which traditionally targeted on seed-stage investing, has made some 200 investments since its 2013 inception, in keeping with Crunchbase. It has backed the likes of Winnie, Finix, Concentric AI, Mercury and Plaid, amongst others. Homebrew has seen at the very least three dozen portfolio firms exit, together with Cruise, Weave and Cheddar.
Most not too long ago, it led the $12 million Series A round into Slang.ai, a platform that robotically solutions the cellphone for eating places, retailers and different varieties of brick-and-mortar companies.
