Sun Basket meal kit delivery service consumes $4.5 mln

San Francisco-based Sun Basket, a new entrant in the bustling meal kit delivery service sector that includes many well-funded competitors, announced it has raised $4.5 million in its first institutional round of funding. PivotNorth Capital and Baseline Ventures coled the round, which also includes Vulcan Capital, Roth Capital, The Florence Group, Rembrandt Ventures, Correlation Ventures, Relevance Capital, Lucas Venture Group and others, including a number of individual investors.


Cendana raises a $50 mln fund of funds

Cendana Capital has closed on a new $50 million fund of funds and raised money for a direct investment fund, Managing Partner Michael Kim said. The new fund, Cendana Capital II, is a step up from Cendana’s first fund, which was $28.5 million.


Crosslink Capital leads $8 mln round for Chime app

Chime has secured $8 million in funding in a round led by Crosslink Capital. The other investors were Homebrew, Forerunner Ventures and PivotNorth Capital. Based in San Francisco, Chime is a bank account and rewards app for millennials.


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 Tom Connors made its efforts known in a filing with the Securities and Exchange Commission.

Cendana Has Final Close On Institutional Seed Fund Of Funds

Cendana Capital announced the final close of a pair of seed-based fund of funds on Friday. The institutional seed investor now has raised $88.2 million and taken a position with nine investment partnerships. The final close announced Friday in a document filed with Securities and Exchange Commission was on $28.2 million raised by Cendana Capital L.P.

Looker Launches with $2m Funding

Looker Data Sciences has launched its new query-based business intelligence software platform, Looker, with $2 million in funding. The financing was led by First Round Capital and PivotNorth Capital.

Blekko Inks $30M

Search engine company Blekko has raised $30 million in new funding, half of it coming from publicly traded Yandex. Australian investor MLC Private Equity, and existing investors U.S. Venture Partners, CMEA Capital and PivotNorth Capital also contributed to the round. Yandex acquired a minority stake in Blekko, the company said. Blekko was formed in 2007, and launched its search engine last year.

Another Ray of Sunshine for VC Fundraising: Ex-USVP Partner Raises $35M for New Fund

After 12 years at Sequoia Capital and U.S. Venture Partners, Tim Connors hung his own name on the door Monday as managing partner of a $35 million micro VC fund called PivotNorth Capital.

The fund took Connors two quarters and “25,000 miles of planes, trains, and automobiles” to raise, Connors wrote in a blog post.

Connors told peHUB in an interview that the micro model reminds him of the venture business 20 or so years ago, when the Sequoias and KPs were smaller shops with fewer partners and staff.

“I’m kind of going back to the tried and true business model,” he said. “There’s more than one way to be successful” in venture.

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