US-based financial advisory service The Motley Fool is raising $100m for a venture capital fund, the Washington Business Journal has reported, citing a regulatory filing last week.
The Motley Fool combines financial and investment advice with multiple podcasts and several mutual funds.
Ollen Douglass, The Motley Fool’s chief financial officer until January this year, will run Motley Fool Ventures as managing director. John Keeling, senior vice-president of business development at the company, will also be a venture partner at the vehicle.
The corporate has not revealed details of the sectors in which it plans to invest, but Keeling said it will participate in rounds at the “seed to series B” stage, building a portfolio that “reflects our best vision of the future”. It is yet to raise any capital, according to the filing.
Motley Fool Ventures will be the The Motley Fool’s first venture capital fund but it has made occasional VC investments, backing employee engagement platform YouEarnedIt and meal delivery service Territory in the past 18 months.