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 co–led 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.Continue
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.Continue
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.Continue
WhoKnows has secured backing from Intel Capital. Existing investors PivotNorth Capital, the Citrix Startup Accelerator and angel investors also participated.Continue
PivotNorth Capital has set out to raise a second fund similar in size to its [...]Continue
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.Continue
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.Continue
Cendana Capital has closed on $60 million of capital for its seed-based fund of funds, [...]Continue
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.Continue
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.Continue