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Social+Capital Partnership raising big new fund

January 31, 2013: 4:37 PM ET

CaptureEx-Facebook exec returns to market.

FORTUNE -- The Social+Capital Partnership, a venture capital firm founded by former Facebook exec Chamath Palihapitiya, is seeking to raise $325 million for its second fund, according to a regulatory filing. It also is planning to raise a $60 million "principals fund" that presumably would come from the personal accounts of Palihapitiya and other firm partners.

The Palo Alto, Calif.-based firm raised $275 million for its debut fund less than two years ago, with Facebook (FB) serving as its "lone corporate investor."

That's a lot of capital to have invested so quickly, although the firm has a stage-agnostic strategy that puts it into larger deals like Yammer's $80 million Series E round just months before the company agreed to be acquired by Microsoft (MSFT) for $1.2 billion. It also participated in a recent $444 million round for SurveyMonkey, which was led by Tiger Global Management (whose founder, Chase Coleman, is an LP in Social+Capital Partnership's first fund).

Other recent investments include Syapse, Flatiron Health, Twitspark and Open Air Publishing.

Social+Capital has two partners in addition to Palihapitiya: Ted Maidenberg and Mamoon Hamid, both of whom previously were with U.S. Venture Partners.

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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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