San Francisco, CA-based pre-seed fund Bee Partners closed its second fund at over $30m.
Bee Partners II, over 4x the size of Bee Partners I, invests around $400k per company advancing enterprise and frontier-focused technologies. It serves as first investor in over 60% of its companies, most of the founders being first-timers. 25% of the firm’s current portfolio had 0 revenue, 0 customers, and 0 product when it first invested.
The fund, which backs approximately 8 new startups annually, has already invested in 17 companies, including Neighborly, Embroker, StatMuse and BuildingConnected.
Founded in 2009, Bee Partners is led by Garrett Goldberg, Michael Berolzheimer, and Cynthia Maxey.
FinSMEs
28/06/2016
Thrilled to announce the closing of our second fund, Bee II, at over 4x the size of Bee I! https://t.co/4vNkfkuIma pic.twitter.com/fB05FmRJvk
— Bee Partners (@BeePartners) June 27, 2016