Ex-Facebook execs up Slow Ventures fundraising game with pair of new vehicles

Slow Ventures, a Californian VC firm founded by former Facebook execs, is out eyeing up to $235m for a pair of new funds.

The firm, which backs FinTech businesses among its portfolio investments, is seeking up to $175m for its fourth flagship fundraise according a US SEC filing.

A separate securities document shows it is also looking to collect up to $60m for its debut Opportunity Fund.

Slow was launched by former Facebook sales executive Kevin Colleran, its ex-director of product management Sam Lessin and Facebook Platform and Facebook Connect co-creator Dave Merin.

The firm says it believes great founders with great ideas need time to build great companies, hence its name.

It targets investments in early-stage tech companies, with notable successes including Nest, sold to Google for $3.2bn, financial services startup Robinhood and coffee roaster and retailer Blue Bottle Coffee.

Slow closed its third flagship fund on $145m almost exactly two years ago, to follow a $65m second fund it raised in April 2015.

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