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Venture capital company Homebrew East target $50 million for new fundaccording to a new filing with the U.S. Securities and Exchange Commission.
This filing is a bit surprising given that Homebrew said nearly two years ago that it was suing one more stage-independent evergreen model which would be financed solely by Satya Patel And Hunters’ Walkthe general partners of Homebrew. But many companies raise more than one fund at a time to target particular opportunities; for example, some startups also raise a second opportunity-focused fund to complement their primary vehicle.
TechCrunch reached out to Walk for comment regarding the new filing, but he said he was unable to say anything publicly at this time.
In March 2022, Homebrew announced that it would have an open-ended fund structure with no termination date.
The San Francisco-based company, which has historically focused on seed-stage investing, has made some 200 investments since its founding in 2013, according to Basic Crunch. He has supported Winnie, Finix, Concentric AI, Mercury and Plaid, among others. Homebrew has seen at least three dozen portfolio companies come out, including Cruise, Weave and Cheddar.
More recently, he led the $12 million Series A round in Slang.ai, a platform that automatically answers phones for restaurants, retailers, and other types of brick-and-mortar businesses.
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