February 3, 2015
The St. Louis Business Journal’s Brian Feldt today reported that the VC firm Cultivation Capital has raised $4.75 million for their $40 million tech fund. The funding came from 11 investors in total, according to their recent filing with the SEC.
According to the report Cultivation Capital cofounder and General Partner Brian Matthews announced in November 2014 that the firm would be creating a second tech fund worth $40 million. The idea is to have the fund invest in financial tech startups and would, hopefully, bring in an additional 20 companies into the firm’s portfolio.
It’s another huge step forward for the booming startup ecosystem in St. Louis strengthened by the fact that they’ll be focusing on the region’s largest market segment, financial tech. To date Cultivation Capital has been able to provide tech startups in the region with the resources for success, and this new fund will absolutely push the pace even more.
We’re looking forward to seeing what they do with the fund, and we’ll keep you updated as time goes on.
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