Firms & Funds

Emerging manager roundup: M13, Moonrise Capital, Drive Capital and more

Eleven fund managers raised $642.2 million from Oct. 23 through Nov. 5, up from the previous two-week fundraising period.

By
Joseph Weitemeyer
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Piggy Bank and Businessman. Photo courtesy of StockFinland/iStock/Getty Images

As the year is close to wrapping up, emerging venture managers have closed on larger amounts. In the last two weeks, fundraisers pulled in their second highest pool since early August.

A total of eleven fund managers raised $642.2 million from Oct. 23 through Nov. 5, according to research from Venture Capital Journal. That’s up from the previous two-week fundraising period, in which nine managers raised $642.2 million.

Year to date, new venture managers have raised a combined $19.2 billion, according to VCJ. No comparable data is available for previous years.

The leading firm for the previous two-week period was Santa Monica, California -based M13, which closed its sophomore fund at $168.4 million. The fund was raised from 217 investors, according to a regulatory filing.

The firm, which takes its name from Messier 13, a star cluster in the northern sky, considers itself a launchpad for early-stage investing within the consumer tech industry.

Not far behind was Moonrise Capital, which is raising its second fund. The Greenwich, Connecticut-based firm closed in on more than $166 million of a targeted $200 million. The amount was raised from 34 investors, according to a filing.

Drive Capital was the third largest fundraiser, adding an additional $76.3 million across two funds. Its third flagship added $42.8 million to close on $350 million while its maiden overdrive fund raised another $33.5 million to close on $284.4 million of a targeted $400 million.

Below is a complete list of the 11 venture fundraisers for the two weeks ended on Nov. 5:

Amity Ventures

  • Fund name: Amity Opportunity
  • Focus: Category-defining businesses.
  • Amount raised: $26.9 million
  • Target: $50 million
  • Location: San Francisco
  • Phone: +1 651-210-0003
  • Filing: https://bit.ly/2QiN2zj

Cyber Mentor Fund

  • Fund name: Cyber Mentor Fund I
  • Focus: Seed-stage cybersecurity.
  • Amount raised: $12 million
  • Target: N/A
  • Location: Burlingame, Calif.
  • Phone: +1 650-219-8825
  • Filing: https://bit.ly/3790jjI

Day One Ventures

  • Fund name: Day One Ventures Fund I
  • Focus: Leading communications for its portfolio companies.
  • Amount raised: $5.7 million
  • Target: N/A
  • Location: San Francisco
  • Phone: +1 347-614-8468
  • Filing: https://bit.ly/2qRcH7r

Drive Capital

HealthQuest Capital

  • Fund name: HealthQuest Ajax III SPV
  • Focus: Healthcare companies within medical devices and technologies, diagnostics, research tools, digital health, healthcare IT and innovative services.
  • Amount raised: $40.2 million
  • Target: $40.2 million
  • Location: West Lake Hills, Texas
  • Phone: +1 650-486-0810
  • Filing: https://bit.ly/2NQAzkD

InCube Ventures

  • Fund name: InCube Ventures III
  • Focus: Life sciences companies.
  • Amount raised: $55.3 million
  • Target: N/A
  • Location: San Jose, Calif,
  • Phone: +1 408-457-3700
  • Filing: https://bit.ly/2KrVF6N

M13

  • Fund name: M13 Ventures II
  • Focus: Consumer tech.
  • Amount raised: $168.4 million
  • Target: $168.4 million
  • Location: Santa Monica, Calif.
  • Phone: +1 424-279-4361
  • Filing: https://bit.ly/2CKcYf6

Moonrise Capital

  • Fund name: Moonrise Venture Partners II LP
  • Focus: Global venture capital opportunities in tech.
  • Amount raised: $166.1 million
  • Target: $200 million
  • Location: Greenwich, Conn.
  • Phone: +1 203-722-7336
  • Filing: https://bit.ly/2Xfkmso

Sababa Ventures

  • Fund name: Sababa Ventures I
  • Focus: Israeli tech companies in media, entertainment, sports and commerce.
  • Amount raised: $7.1 million
  • Target: $35 million
  • Location: New York City
  • Phone: +1 845-304-1836
  • Filing: https://bit.ly/2XflImY

Vodia Ventures

  • Fund name: Vodia Ventures Fund II, LP
  • Focus: Early-stage capital for emerging social impact technologies.
  • Amount raised: $4.7 million
  • Target: $20 million
  • Location: Lincoln, Mass.
  • Phone: +1 978-318-0900
  • Filing: https://bit.ly/2XgRyja

Winnow Fund

  • Fund name: Winnow Fund I
  • Focus: Wisconsin-based startups.
  • Amount raised: $3.3 million
  • Target: $10 million
  • Location: Madison, Wisc.
  • Phone: +1 608-313-4558
  • Filing: https://bit.ly/378629B

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