Afore Capital beats target for second pre-seed fund

San Francisco venture firm closed on $77.5 million for its sophomore fund, beating its target.

Afore Capital has closed on $77.5 million for its sophomore fund, beating its target, according to SEC filings.

The San Francisco firm said in a February 2019 filing that it was targeting $75 million. In a new filing, it states that “$76,975,758 was offered and sold pursuant to Rule 506(b) from February 21, 2019 to September 17, 2019 and $500,000 was offered and sold pursuant to Rule 506(c) on February 13, 2020.”

Afore is led by Anamitra Banerji, formerly a partner at Foundation Capital, and Gaurav Jain, who was once a principal at Founder Collective.

Afore raised $47 million for its debut fund in October 2017, VCJ previously reported. The firm has backed more than 40 companies, many of them in the SaaS space, according to its website.