Homegrown Capital aims to raise $30m for second VC fund

Homegrown Capital plans to raise $30 million for its second venture capital fund. This effort comes after the firm’s recent closure of its pioneering fund at $17.2 million, falling slightly short of its $20 million goal, according to data from PEI. The new fund aims to build on the success of the inaugural fund and further support innovative startups in their growth journey.

The decision to target $30 million for the sophomore fund underscores Homegrown Capital’s confidence in the venture capital landscape and its commitment to backing promising entrepreneurs and disruptive technologies. The firm’s experience with its debut fund has positioned it well to identify and nurture high-potential startups that have the potential to make a significant impact in their respective industries.

Homegrown Capital’s focus extends beyond just providing financial support to startups. The firm aims to be actively involved in the growth and development of the companies it invests in, offering strategic guidance, industry expertise, and invaluable networking opportunities to help them achieve their full potential. This hands-on approach sets Homegrown Capital apart and underscores its dedication to supporting the success of its portfolio companies.

The recent closing of the firm’s first fund at $17.2 million highlights investor confidence in Homegrown Capital’s investment strategy and the strength of its portfolio. Despite falling short of the initial fundraising target, the firm’s ability to secure significant capital speaks to its track record and the potential for long-term growth and success in the venture capital space. This success has set a strong foundation for the firm’s second fund, which aims to attract new investors and capitalize on emerging opportunities in the startup ecosystem.

Building on the momentum of its debut fund, Homegrown Capital is well-positioned to target a larger fund size for its second venture capital vehicle. The increased fundraising goal reflects the firm’s ambition and belief in the potential of early-stage companies to drive innovation and create value in the market. By leveraging its expertise, network, and resources, Homegrown Capital aims to support a new generation of startups and contribute to the growth of the venture capital ecosystem.

The decision to target $30 million for the sophomore fund signals Homegrown Capital’s commitment to expanding its footprint in the venture capital landscape and further establishing itself as a key player in supporting the growth of innovative startups. With a strong track record and a hands-on approach to investing, the firm is well-equipped to identify and nurture the next generation of successful companies. Investors and entrepreneurs alike are keen to see the impact that Homegrown Capital’s new fund will have on the startup ecosystem and the broader tech industry.