Motley Fool Ventures, the venture capital arm of financial advisory firm The Motley Fool, has raised $102 million for its second fund — and it’s still going strong with fundraising.
Eventually, it’s targeting $300 million for its final close — an amount that would be double the size of its first fund.
The initial close of Motley Fool Ventures II is made up of $94 million from a “feeder fund,” which is made up of mostly individual investors and another $8 million from other investors. Around 300 new investors across 30 states and D.C. — mostly from the Motley Fool’s audience — took part in the initial raise over four months, the company said.
Now, it’s on the road to collect more, with the potential of exceeding even the higher-end expectations — “$300 million is not a hard cap, and we anticipate the [remaining] $198 million will come from professional LPs that invest in emerging managers,” said Ollen Douglass, managing partner at Motley Fool Ventures since 2018.
While…
Read the full story from the Washington Business Journal.
