Seed stage-focused venture capital firm Maven Ventures is looking to raise up to $50m for its third fund.
Maven Ventures Fund III has yet to register any capital, according to the latest US SEC filing. It is unclear whether the $50m sum is a target or a hardcap.
The firm looks to invest into consumer software trends such as virtual reality, novel marketplaces and self-driving cars. Portfolio companies receive up to $500,000 in seed funding, with consideration for follow-on investments.
Alongside capital, Maven offers companies regular support and expertise meetings, access to events, professional services and fundraising advice.
There have been a handful of FinTechs in the firm’s portfolio including public financing solution Neighbourly. Last year, Maven took part in the $25m Series A of the company which optimises public financing by connecting borrowing communities with investors helping cities to easily issue debt and enable people to invest directly into their community.
Other FinTechs in its portfolio include automated investing platform Wealthfront, online investing platform Growth Capital Ventures and online investment firm AngelList.
Last week, First Round capital also re-entered the fundraising market with a $209m goal for its seventh flagship fund. The firm, which was founded in 2004, is an early-stage investor typically backing companies in the consumer, FinTech, healthcare, hardware and enterprise sectors.
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