Quake Capital to raise $30 mln second fund

New York accelerator and seed fund Quake Capital is targeting a $30 million second fund to be deployed over the next two years, the firm said.

The fund is presently being raised and will invest in about 150 accelerator companies with checks of $150,000. Follow-on funding will be available for about 30 companies.

Quake’s first fund launched in January 2017 with $18 million in capital and has invested in 31 startups. The firm said more than 87 percent of the companies have gone on to raise follow-on funding.