Enterprise capital agency Homebrew is concentrating on $50 million for a brand new fund, in keeping with a brand new submitting with the U.S. Securities and Trade Fee.
The submitting comes as a little bit of a shock contemplating that Homebrew practically two years in the past stated it was pursuing a extra stage-agnostic evergreen mannequin that may be funded solely by Satya Patel and Hunter Stroll, Homebrew’s basic 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 foremost automobile.
TechCrunch reached out to Stroll for remark relating to the brand new submitting however he stated he was not in a position to say something publicly right now.
In March of 2022, Homebrew stated it might 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 just lately, it led the $12 million Sequence A spherical into Slang.ai, a platform that routinely solutions the cellphone for eating places, retailers and different sorts of brick-and-mortar companies.
