“Always be raising.”
It’s not a bad motto, and it’s one that Dave McClure’s 500 Startups seems to be taking to heart. After all, it had just recently closed Fund I when an SEC filing dropped alerting us all that it was raising another $50 million for Fund II. And now that the ink is dry on that one, with 500 Startups closing out at its second fund at just over $44 million, it’s apparently time to go back to LPs again and start asking for more.
This time, the investment firm is seeking $100 million to make seed-stage and follow-on investments, according to an SEC filing.
The new fund is being raised just three years after 500 Startups first started writing checks, and as the investment firm is rapidly expanding. 500 Startups now has 30 employees, including 10 who are making investments. It has a fairly…
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