4 months after closing its largest fund up to now, Kapor Capital needs extra. The agency is beneath new management after co-founders Freada and Mitch Kapor stepped back from the outfit, which focuses on funding social influence ventures and founders of coloration. Now, led by Uriridiakoghene “Ulili” Onovakpuri and Brian Dixon, Kapor Capital is hoping to lift a $50 million alternative fund, according to an SEC filing.
The chance fund, if closed, would proceed Kapor Capital’s new technique of taking capital from outdoors traders. Up till final 12 months, all of Kapor’s funds had been straight from the founding companions; in September, although, the agency closed a $126 million Fund 3 backed by traders together with Cambridge Associates, Align Affect, Ford Basis, Financial institution of America, PayPal and Twilio.
On the time, Dixon informed TechCrunch that turning to exterior traders helps the agency with entry; Kapor is now writing checks between $250,000 and $3 million with a major concentrate on collaborating in pre-seed and seed rounds. Onovakpuri mentioned the bigger fund would enable them to put money into extra corporations with greater checks.
That mentioned, with presumably a recent chunk of capital to deploy, why would Kapor be eyeing a possibility fund? It’s a trend-turned-standard amongst early-stage enterprise capital corporations that wish to get in on later rounds of their star portfolio corporations. Final 12 months, Khosla debuted an opportunity fund and final week, Cowboy raised its first of the kind as well.
Kapor Capital didn’t instantly return a request for remark.