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K9 Ventures digs for $40 million bone

April 18, 2012: 12:15 PM ET

"Super angel" Manu Kumar is raising a new fund.

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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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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