CrunchFund, the early-stage investment firm that’s basically one giant conflict-of-interest statement for TechCrunch, is raising $40 million for a second fund, according to a regulatory filing.
I’ve emailed partners Michael Arrington and Patrick Gallagher for confirmation, and I’ll update this post if I hear back. (CrunchFund’s third partner, TechCrunch alum MG Siegler, left to join Google Ventures last year.)
Arrington, of course, is the founder of TechCrunch. He launched CrunchFund in the fall of 2011 with a $20 million fund. AOL, which acquired TechCrunch a year before, was a big investor. (The announcement of the CrunchFund led to much journalistic handwringing and Arrington’s eventual ouster from this site, though he remains involved in TechCrunch’s conferences.)
Since then, CrunchFund has backed a long list of companies (long enough that TechCrunch writers sometimes have trouble keeping track), with recent investments in video-sharing app Mindie, location-sharing app Highlight, and journaling app Heyday.
Following MG’s departure and some ensuing speculation about the firm’s future, Fortune’s Dan Primack took a look at the firm’s results thus far, concluding that it shouldn’t have any trouble raising a second fund, and that the mix of investors was likely to change.
0 comments:
Post a Comment