Tusk Ventures seeks $70m for Fund II

Tusk Ventures is out raising $70m for its second venture capital fund focused on tech start-ups in the regulated industries.

The US based firm has yet to register any capital commitments for the vehicles according to a SEC filing. It is unclear whether the amount listed in the filing is a target or hard cap.

Should Tusk reach its fundraising goal it will surpass is debut fund which closed on $36m back in 2017. The firm use Fund I to write cheques between $750,000 and $2m according to a TechCruch report.

The firm typically invests in tech start-ups operating in heavily regulated sectors in North America and Israel.

Tusk’s past and current investments have included FinTechs such as cryptocurrency marketplace Coinbase, insurance platforms Lemonade and Boot Insurance and financial planning platform Grove.

Tusk is led by former political campaign manager Bradley Tusk and former Blackstone director Jordan Nof.

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