Blumberg Capital has closed its third fund, a $150 million venture fund that focused on seed and early stage investing in tech startups. The firm reaped a 52x return on its initial investment in HootSuite, according to David Blumberg, the firm’s managing partner.
Blumberg Capital, today announced the closing of Blumberg Capital III, a $150 million venture capital fund dedicated to seed and early stage investing in disruptive technology start-ups.
“We are pleased with the fundraising success and want to thank our investors for their continued support,” said David J. Blumberg, Managing Partner. “We specialize in leading seed-stage financing rounds with a motto of “Go early, go big”. Our recent success with HootSuite yielded 52X return on our initial investment and is a powerful endorsement of that strategy. We are active investors adding value through business development by leveraging our extensive network of CIOs, CMOs and strategic partners.”
“Our relationship with Blumberg Capital is part of a strategic collaboration,” said Sajan Pillai, CEO of UST Global. “We are realizing tremendous value by connecting a number of Blumberg Capital portfolio companies to our Global 1000 clientele who are searching for innovative and disruptive technological solutions.”
“We’re appreciative that Blumberg Capital is being recognized by entrepreneurs as a premier seed venture capital firm,” added Bruce Taragin, Managing Director. “By actively supporting our portfolio companies, we have built meaningful relationships with founders and management teams, which drive our proprietary deal flow.”
“Blumberg Capital was our first choice to lead our Series A financing,” said Uri Levine, Founder and Chairman of FeeX, and previously Founder of Waze. “The Blumberg Capital team was engaged and helpful throughout the due diligence process and has proven to be a great partner with strategic introductions to help us scale in Israel and the US.”
About Blumberg Capital:
Blumberg Capital is an early-stage venture capital firm that invests in exceptional entrepreneurs with transformative ideas. We partner with passionate founders to disrupt markets through innovation and build successful companies. Our team has extensive experience collaborating with companies in Enterprise Software, Digital and Social Media, Mobile and Consumer Internet. Our relevant operational expertise and focused network enable us to be bridge-builders, connecting entrepreneurs with partners to drive success.
Blumberg Capital specializes in leading Seed and Series A rounds in syndication with angels, venture capital firms and strategic investors. We are active investors and board members – operating as an extension of the entrepreneurs’ network. Our typical investments range from $500,000 to $3 million with additional amounts reserved for follow-on investments. Blumberg Capital is headquartered in San Francisco with an office in Tel Aviv. For a list of active portfolio companies, visit Blumberg Capital: http://www.blumbergcapital.com.