Defy seeks third fund

The early-stage firm filed to raise $300m for a main fund and $100m for a fund called GOALS I.

Woodside, California-based early-stage investor Defy Partners, has filed to raised $300 million for its third flagship fund, according to a regulatory filing. The firm has also filed to raise an additional $100 million for a fund called GOALS I, presumably an opportunity fund to back its growing portfolio.

The new main fund comes about two years after it raised $262 million for its second fund. Defy, led by founder Neil Sequeira, raised $151 million for its maiden fund in 2017 to make Series A investments.

Since the second fund, Defy has built up its partnership, adding Bob Rosin as a partner late last year. Earlier this year, it added to its partnership again, hiring Kamil Saeid as partner and promoting Madison McIIwain and Purvi Shah each to partner.

In August, co-founder Trae Vassallo announced she left the firm to join the worldwide operations at Apple, though she remains listed as an adviser at Defy.