With a portfolio including Acorns, Sweetgreen and Ro Health, Torch Capital raises $60M for its first fund

Jonathan Keidan, the founder of Torch Capital, had already built a portfolio that included Acorns, Compass, Digital Ocean and Sweetgreen, before he raised single dollar for his inaugural venture capital fund, which just closed with $60 million.

Keidan, a consummate networker who began his professional career as a manager working with acts like The Nappy Roots, The Getaway People and a young John Legend, just managed to be in the right place at the right time, he says (thanks, in part, to his gift for gab).

The final close for Torch Capital’s first fund is just the beginning for Torch, which is angling to be one of the premiere firms for early stage consumer internet and consumer facing enterprise software.

The firm began raising its first fund in October 2017 and held a $40 million first close just about one year ago. Keidan and his partners had targeted $50 million for his first investment vehicle, but wound up hitting the hard cap of $60 million, in part due to high demand from the New York-based entrepreneurs that Keidan considers his peers.

In addition to backers like the George Kaiser Family Foundation and billionaire Hong Kong fashion mogul Silas Chou,

 » Read More

Loading...

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

Comments

comments

New York Public Library Ends Its Free Movie Streaming Service

New York Public Library Ends Its Free Movie Streaming Service

Facebook may finally let you turn off those annoying notification dots

Facebook may finally let you turn off those annoying notification dots