The Motley Fool’s first venture fund is going to be bigger than expected

The Motley Fool Inc.’s first outside venture fund will end up raising more than the $100 million initially planned, according to sources familiar with its fundraising efforts.

The Alexandria financial advice and services firm launched the fund in July with a $100 million goal, according to Securities and Exchange Commission filings. But after conducting a first close around that number, the company is now aiming for more. One source pegged the final goal at around $150 million.

While the ultimate total is not clear, the final total will likely far exceed the initial $100 million — a show of fundraising strength in a new arena for a company that has built a reputation for public company information and stock advice.

The Motley Fool declined to comment on the fundraising so far, only saying the response has been “positive.” The company said it is still fundraising and $100 million is still its goal, adding it will share more information within a couple of weeks.

Likely buoying its…

Read the full story from the Washington Business Journal.