As the market collapses, venture capital firms continue to announce new funds.
On Tuesday, TechCrunch journalists detailed five of them, as you’ll see below.
In the meantime, I corresponded with the three firms about their funds and any concerns the limited partners raised during the fundraising phase.
Haris Khurshid, General Partner Chalo Ventureslaunched a second $50 million fund focused on investing in Pakistani startups and a smaller stake in Latin American startups.
“With a large population, Pakistan is geographically smaller, well connected to fewer provinces, has lower regulatory barriers, and lacks strong officials,” Khurshid, who is originally from Pakistan, said in an email. “This allows Pakistani startups to scale faster across the country and expand into other markets.”
The firm began raising two months ago and has already raised $35 million in liabilities and cash. Khurshid said he expects to close by the end of the second quarter and start investing in the third quarter.
Khurshid explained that the fundraising terms “were not as difficult as we thought” and what helped was the specific purpose of investing in Pakistan. He said LP wanted to know how the firm would manage investments in this market, which required the firm to explain a bit why Pakistan needed a dedicated fund.
Lorena Suarez, one of the managing partners of the Argentinean Alaya Capital, a 10-year early-stage venture capital firm, invests in startups from Hispanic Latin America. Alaya had its first $80 million capex close for its third fund last month.
As for LP’s behavior, Suarez said in an email that LPs are wondering if business fundamentals are strong in Latin America. As a result, “due diligence requires additional time, but has not yet impacted their final commitments. We have seen concern about how deep this financial crisis will be and how long the conflict in Europe will last with the consequences it may have in the coming years.”
However, she went on to say that Alaya saw other LPs invest more heavily “because vintages are known to perform better during crises than at any other time.”
AT golden ratio, the Houston-based parent studio and venture capital firm, the firm completed the first close of its second fund in May but did not disclose the amount. Marketing director Yosef Loewenstein said in an email that the fund would eventually total about $80 million. It is focused on the early stage B2B SaaS, so LP is concerned about how B2B software will perform in an inflationary environment, he wrote.
It has been a busy day for new funds. Meet some of my colleagues:
- This was reported by Jacqueline Melinek. Multicoin Capitala new $430 million fund for crypto-related investments. She also wrote about Main charactera $100 million fund also focused on cryptocurrencies.
- Rebecca Shkutak coated Conscience VKinterviewing Ariana Tucker about her firm, which has invested in consumer companies with a scientific edge.
- This was reported by Ekaterina Shu. C2 VenturesThe second $20 million fund targets startups disrupting traditional industries.
- Manish Singh revealed Lightspeed Venture Partners‘ A new fund for India and Southeast Asia, which has $500 million in commitments. This fund is part of a group of four startup lifecycle contributors, Speed of light announced Tuesday for a total of $7 billion.
- Paul Sawers covered Katai Innovationa third fund with a capital commitment of $1.05 billion.
Here is an overview of some others from my inbox:
- Bloomberg Beta announced its fourth $75 million fund, as well as a new $75 million opportunity fund for later startup reviews that the firm has already backed.
- Ben Narasin perseverance closed its debut fund with a capital commitment of $50 million. The firm says it plans to write checks ranging from $1 million to $3 million in pre-round A rounds of companies in both the US and the UK..
Credit: techcrunch.com /