Emerging manager roundup: Lightbox, SV Tech, Matchstick and more

It was another poor fundraising period for emerging venture managers, who clocked in their least-successful two weeks of activity in 2019.

Seven emerging fund managers raised just $104.1 million from Sept. 11 through Sept. 24, according to research from Venture Capital Journal. That’s $165.7 million lower than the previous two-week low. It marks the third consecutive 14-day period that emerging managers failed to reach $1 billion in new commitments after three weeks of raising more than $1 billion.

Year-to-date, new venture managers have raised a combined $17.3 billion, according to VCJ. No comparable data is available for last year.

Lightbox Ventures led the lackluster period with the final close of its third fund. The Mumbai-based firm added $31.3 million to the fund, to cap it at nearly $210 million, which beat out its original target of $200 million. The total amount was raised from 28 investors, according to a regulatory filing.

Lightbox focuses on early-stage consumer technology businesses.

SV Tech Ventures raised $23.2 million of a targeted $100 million for its third fund. The Palo Alto, California-based firm has completed investments in more than 70 tech companies through its first two funds, according to its website.

Matchstick Ventures raked in the third most. The firm added another $18.2 million to its sophomore fund, bringing the total raised to $30.5 million. The amount was raised from 89 investors, a filing showed. The Minnesota-based firm focuses its investments near the broader Rockies region and the Northern United States.

Below is a complete list of the seven venture fundraisers for the two weeks ending on Sept. 24:

Bling Capital

  • Fund name: Bling Capital Fund I Opps
  • Focus: Consumer tech, internet & mobile, marketplace, date, fintech, SaaS, automation.
  • Amount raised: $0.6 million
  • Target: $30.8 million
  • Location: San Jose, Calif.
  • Phone: +1 650-224-4865
  • Filing: https://bit.ly/2oGe7Ar

C2 Ventures

  • Fund name: C2V Capital Partners I
  • Focus: Early stage investing and advice to entrepreneurs.
  • Amount raised: $2.8 million
  • Target: $10 million
  • Location: Rye, NY
  • Phone: +1 917-837-3682
  • Filing: https://bit.ly/2oysuqA

COWEN

  • Fund name: CHI EF III
  • Focus: Healthcare.
  • Amount raised: $18.2 million
  • Target: N/A
  • Location: New York City
  • Phone: +1 646-562-1728
  • Filing: https://bit.ly/2oAAkjs

Lightbox Ventures

  • Fund name: Lightbox Ventures III
  • Focus: Early-stage consumer technology businesses.
  • Amount raised: $31.3 million
  • Target: $209.4 million
  • Location: India
  • Phone: +91 22-6159-9599
  • Filing: https://bit.ly/2nJdE0x

Matchstick Ventures

  • Fund name: Matchstick Ventures Fund II
  • Focus: Colorado and the broader Rockies region and Minnesota and the broader North region.
  • Amount raised: $18.2 million
  • Target: $30.7 million
  • Location: St. Paul, MN
  • Phone: +1 303-810-6144
  • Filing: https://bit.ly/2pkH999

Prime Movers Lab

  • Fund name: Prime Movers Lab Fund I
  • Focus: Physics-powered startups in the energy, transportation, infrastructure, manufacturing, human augmentation and computing.
  • Amount: $15.81
  • Target: N/A
  • Location: Jackson, WY
  • Phone: +1 307-203-5036
  • Filing: https://bit.ly/2pkWA15

SV Tech Ventures

  • Fund name: SV Tech Fund III
  • Focus: High-tech companies.
  • Amount: $23.2 million
  • Target: $100 million
  • Location: Palo Alto, Calif.
  • Phone: +1 408-490-0698
  • Filing: https://bit.ly/2psqiS0

Download a spreadsheet with information about all of the funds: Emerging VC Roundup