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 Alternate Fee.
The submitting comes as a little bit of a shock contemplating that Homebrew almost 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 common companions. However many corporations increase multiple fund at any given time to focus on specific alternatives; for instance, some early-stage corporations increase a second, opportunity-focused fund as nicely to complement their most important car.
TechCrunch reached out to Stroll for remark concerning the brand new submitting however he stated he was not capable of say something publicly at the moment.
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 centered 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 a minimum of three dozen portfolio corporations exit, together with Cruise, Weave and Cheddar.
Most not too long ago, it led the $12 million Collection A spherical into Slang.ai, a platform that robotically solutions the telephone for eating places, retailers and different sorts of brick-and-mortar companies.