Corigin Ventures has now closed its first fund at $36m to invest in seed startups, according to news provider TechCrunch.
Ryan Freedman and David Goldberg, the fund’s general partners, have 49 portfolio companies already under their belt as general partners, including Singularity University and real estate startup Compass.
Corigin will invest across 25 companies with the new fund, at roughly six to 10 deals a year, according to Goldberg to TechCrunch.
While the move by Corigin would have been in the works from before the coronavirus lockdown in New York City and elsewhere, the close enables the parent business to grapple with the economic dislocation caused to its main business while still enabling the innovation team to stay active and open to ideas.
As our GCV webinar at the start of the month uncovered, more similar blends of strategic and financial funds will be on their way. For the next one on Thursday at 10am PST about funding portfolio companies, please register here.
