Advancit Capital has set out to raise a $40 million third venture fund, according to an SEC filing.
Advancit invests in early-stage technology and media companies. Shari Redstone founded the firm in 2011 with her son in law Jason Ostheimer, a former Blackstone Group executive. Redstone is the daughter of Sumner Redstone and vice chair of the boards of Viacom Inc and CBS Corp. Advancit targeted $25 million for its second fund in 2013, according to a separate filing.
Advancit has yet to report a first close.