Newark Venture Partners updates Fund II filing

The seed-stage firm closes on $73.6m for its sophomore fund from 35 LPs. The fund is targeted at $100m.

Seed-stage investor Newark Venture Partners has raised more than $73.6 million for its second fund, which is targeted at $100 million, according to a regulatory filing.

The filing indicates 35 LPs have committed to the fund. The firm boasts a number of high-profile partners and LPs, which include corporates and high-net-worth individuals. Among the LPs are Audible (an Amazon Company), Dun & Bradstreet, Fidelco Realty Group, Horizon Blue Cross Blue Shield, Panasonic Corporation of North America, Prudential Financial, RWJBarnabas Health, TD Bank and the New Jersey Economic Development Authority.

The Newark, N.J.-based firm raised $44 million for its inaugural fund, vintage 2017. That fund is fully invested and the firm is has already invested from its second fund.