Equal Ventures is seeking $40 mln towards its first fund

Equal Ventures, a New York City-based early-stage firm, is raising its first fund with a target of $40 million, according to a filing with the SEC. First sale was not reported.

The firm’s first investment is LEAP, a Retail-as-a-Service platform for consumer brands.

Equal Ventures is co-founded by Richard Kerby, who previously focused on early-stage deals at Venrock, and Rick Zullo, whose investment experience includes Chicago-based firm Lightbank.