Four months after closing its largest fund to date, Kapor Capital wants more. The company comes under new leadership after co-founders Frieda and Mitch Kapor stepped down from an organization focused on funding impactful ventures and founders of color. rice field. Kapor Capital, now led by Uridiakoghene “Ulili” Onovakpuri and Brian Dixon, hopes to raise $50 million in opportunity funding, according to SEC filings.
Kapor Capital’s new strategy of raising capital from outside investors will continue if the Opportunity Fund is closed. Until last year, all of Kapor’s funding came directly from its founding partners. But the company closed his $126 million Fund 3 backed by investors including Cambridge Associates, Align Impact, Ford Foundation, Bank of America, PayPal and Twilio in September.
At the time, Dixon told TechCrunch that relying on outside investors would give the company access. Kapor is currently writing checks for $250,000 to $3 million, mostly focused on participating in pre-seed and seed rounds. Onobakpuri said the larger size of the fund will allow him to invest in more companies with bigger checks.
That said, why would Kapor look at an opportunity fund when it probably needs to bring in new money? Last year, Khosla debuted an opportunity fund, and last week Cowboy also raised its first funding of its kind.
Kapor Capital did not immediately return a request for comment.
