Fundraising roundup: Owl, B Capital and A-Star feature in latest surge of regulatory filings

Recent filings include two venture firms, A-Star and Sway, founded by former private equity investors.

July has ended with a flurry of regulatory filings, an indication that fundraising should remain robust through the end of the year.

Below is a sample of some of the fund filings that Venture Capital Journal has reviewed.

Edtech is hot. Owl Ventures raised $585 million across two new funds last year, but is back at it, an indication of how the pandemic has accelerated the edtech sector. Owl Ventures is seeking $450 million for its fifth fund, according to a regulatory filing. The San Francisco-based venture firm closed on $415 million last summer for its fourth fund and $170 million for its inaugural opportunity fund.

B Capital eyes new markets. B Capital Group, the firm co-founded by Facebook co-founder Eduardo Saverin and which features First Round Capital founder Howard Morgan as chairman, announced two fundraises. The growth-stage investor registered it raised $225 million from three investors for B Capital Healthcare I. And it filed that it raised more than $223 million, also from three investors, for a fund called B Capital China I. There was no indication from the funds on their targets or whether they remain open. B Capital announced in summer 2020 it had raised $820 million for its second fund to invest in growth-stage companies.

Dropbox execs turned VCs. Seed investor South Park Commons Fund, led by partners Ruchi Sanghvi and Aditya Agarwal, is seeking to raise $135 million for its second fund, according to a filing. The firm is located in the South Park area of San Francisco, which is a stone’s throw from Dropbox headquarters, where Sanghvi was VP of operations and Agarwal was CTO and VP of engineering.

San Diego firm has L’Attitude. L’Attitude Ventures in San Diego is seeking $100 million for its second fund, according to a filing. The firm, known as LAT VC and which backs Latino founders, was launched in 2018 and is led by Sol Trujillo, Gary Acosta and Kennie Blanco.

From PE to A-Star. A-Star, which includes Eventbrite co-founder Kevin Hartz as a partner, is looking to raise $30 million for its inaugural fund, according to a filing. The firm lists two SPACs on its website. A-Star was co-founded by Bennett Siegel, who was a partner with Coatue Management for four years and was a private equity investor with Altamont Capital Partners for two years before that, his LinkedIn page says.

Sway seeks debut fund. San Francisco-based Sway Ventures, which invests consumer and enterprise deals, aims to raise $60 million for is inaugural fund, according to a filing. The firm, which says it invests from the early to mid-stage, was founded by Brian Nugent, who was previously a PE investor for more than a decade and was most recently a partner at the buyout mid-market investor Torch Hill Investment Partners.

Researcher Stephen Schultz contributed to this report.