Tribeca Venture Partners is raising its second fund with a $100 million target and $125 million hard cap, Coins2Day has learned. And, in a bit of confusing numerology, the fund is officially called Tribeca Venture Partners III (it seems the legacy portfolio of co-founding partner Brian Hirsch – then helping to lead Greenhill SAVP – is technically considered the first Tribeca fund, even though it really isn’t).
TVP raised $64 million for its first fund back in 2011.
The new fund continue the firm’s investment strategy of backing early-stage tech startups in the New York City area. I’m also hearing that the group has held a $50 million dry close.
Active portfolio companies include AppNexus, Lendio, Maxwell Health and Truveris.
No comment from Hirsch, et al (natch).
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