Inexperienced Bay-based enterprise capital agency TitletownTech introduced this week it has closed a second fund price $70 million. The fund is made up of 27 buyers, each previous and new. TitletownTech now has $95 million in property beneath administration.
TitletownTech is an innovation fund shaped in 2019 out of a partnership between the Inexperienced Bay Packers and Microsoft. It builds and funds early-stage, high-growth startups. The agency has a number of core funding areas together with sports activities, media and leisure; well being and wellness; agriculture; water and atmosphere; manufacturing and development; provide chain and logistics; and cross-industry applied sciences.
“Greater than doubling the dimensions of our first fund demonstrates the belief and confidence our buyers have within the power of our staff and portfolio,” mentioned Craig Dickman, TitletownTech’s managing director “With new and current buyers working alongside us, we’re uniquely positioned to assist founders and portfolio corporations.”
TitletownTech’s portfolio consists of Delafied-based Synthetaic, which was lately profiled within the New York Occasions after its AI program helped tracked a Chinese language climate balloon, and Milwaukee-based logistics startup Renaissant, which lately closed a $1.5 million seed spherical.
Since its inception, TitletownTech has invested in 30 corporations. Nearly all of the agency’s first fund went to first-time founders and greater than 50 of these founders went on to boost further capital.
“Beginning a profitable firm, very similar to main a Nationwide Geographic exploration, takes much more than a good suggestion and funding. It additionally requires an area crucial mass of expertise, partnerships, and vitality,” mentioned Corey Jaskolski, CEO of Synthetaic. “TitletownTech is a singular point of interest that brings all these items collectively and has been key to Synthetaic’s success up to now.”
TitletownTech is already working to deploy capital from its second fund.