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Exclusive: Homebrew closes debut fund

July 2, 2013: 1:09 PM ET
The Homebrew crew

The Homebrew crew

Quick fundraise for former Google and Twitter execs.

FORTUNE -- Homebrew, a new venture capital firm founded by former Google and Twitter product managers, has quietly closed its debut fund with $35 million.

The San Francisco-based firm was launched earlier this year by Hunter Walk, who led product for Google's (GOOG) YouTube, and Satya Patel, a fellow ex-Googler who most recently was VP of product for Twitter.

Both also have past investing experience -- Walk as an active angel and Patel with Battery Ventures.

The Homebrew strategy is to create a concentrated portfolio of startups that "enable the people-based economy" for both consumers and enterprises. Half of the companies would be incubated by Homebrew, while the others would be seed-stage financings. None of Walk and Patel's personal angel investments will be rolled into the Homebrew portfolio.

Walk and Patel personally contributed around 2% of the fund capital, while the majority came from funds-of-funds.

Walk declined to comment on the fund close. So far, Homebrew does not have a website.

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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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