PivotNorth To Raise Second $35M Fund

PivotNorth Capital has set out to raise a second fund similar in size to its first.

The micro VC firm run by former Sequoia Capital Partner Tim Connors made its efforts known in a filing with the Securities and Exchange Commission. The filing doesn’t list a target fund size, but industry sources say Connors is raising a fund similar in size to his $35 million 2011 first fund.

PivotNorth does seed and Series A deals with initial checks of $100,000 to $3 million, Connors has said in the past. The firm is focused on consumer and enterprise companies and will do four to six deals a year.

Past investments include Blekko, Singly, Looker Data Sciences, Deliv and Hall.

His initial fund patterned itself on a venture industry of old, when in the late 1980s and early 1990s, partners invested $35 million per fund and were able to generate good returns with exits of several hundred million dollars. The new fund suggests he is adhering to his strategy.

Connors spent 12 years at Sequoia and U.S. Venture Partners before branching out on his own. He was a former director at Guidewire Software.

He did not respond to an e-mail seeking comment.

 Photo courtesy of Shutterstock.

(Correction: The original version of this story misspelled Tim Connors’ first name. It has been corrected.)

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