Early-stage venture investor Ulu Ventures is eyeing $100m for its third fund.
Ulu Ventures Fund III has a target of $100m, but it is unclear whether this will serve as a hardcap. The firm has yet to register any capital to the vehicle, according to the latest US Securities and Exchange filing.
Based in San Francisco, Ulu backs IT startups across FinTech, EdTech, smart data and enterprise sectors.
Earlier in the year, Ulu contributed to the $3.1m seed round of blockchain-powered PropTech platform RealBlocks. The startup provides financial intermediaries, alternative investment managers and investors access with tools to make real-time decisions.
Ulu portfolio is comprised of many FinTech platforms including pay-per-mile insurance platform Mile Auto, community lending platform SoFi, spend tracking platform Juntos and payments with digital checks Snapcheck.
Earlier in the week, CVC Capital Partners closed its sophomore growth fund on $1.6bn. The vehicle is backing companies in North America and Europe within the FinTech, SaaS, managed services, cloud computing, mobility, payments, security and IT industries.
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