Venture fund-of-funds Weathergage Capital is in the market for a third fund of up to $200 million, according to a securities filing.
The planned new fund, Weathergage Venture Capital III, will have five managing directors, all of whom are already with the firm. It has not yet closed on capital, according to the filing.
Partners at Weathergage declined to comment on the new fund, which is similar in size to previous ones. Weathergage closed its first fund, a $250 million vehicle, in 2007, and its second, for $182 million, in 2011.
The Palo Alto, Calif.-based firm has historically invested in venture capital and growth equity funds and, like most fund-of-funds managers, aims for top-tier performers.
It was an early supporter of “micro VCs” – smaller, early-stage managers who sought to capitalize on the shrinking costs of launching startups. One of those was Maples Investments, now called Floodgate.
Photo illustration of one hundred dollar bills from Shutterstock.