K9 Ventures digs for $40 million boneApril 18, 2012: 12:15 PM ET
K9 Ventures is seeking to raise around $40 million for its second investment fund, Fortune has learned.
The Palo Alto, Calif.-based firm was founded several years ago by serial entrepreneur Manu Kumar, to invest in concept-stage (sub-$100k investments) and seed-stage (sub-$1m) technology companies in the Bay Area. It raised $6.5 million for its debut fund, whose portfolio includes CrowdFlower, Twilio, Lumber Labs and Zimride.
Kumar declined to comment on the fundraise, citing SEC marketing restrictions. On its website, K9 explains its canine moniker:
Dogs have many different traits that can be useful at different times. They can be your best friend, be loyal, loving, aggressive, intelligent. Companies, especially startups, require different forms of support at different times of their lifecycle. If a dog is "Man's best friend," you can think of K9 Ventures as the "Startup's best friend."
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