Las Olas VC closed its second seed fund over target following strong investor demand and Fund I performance.
FORT LAUDERDALE, Fla., April 13, 2022 /PRNewswire/ — Las OIas Venture Capital (“LOVC”) (lasolasvc.com) raised $50M for its newest fund to continue its strategy of seed-stage B2B software investments.
With this new fund, LOVC continues its thesis of leading seed-stage financings for B2B software companies, with a particular focus on companies based in emerging technology markets such as the southeastern US. The fund seeks to lead seed round sizes of $3-5M with up to $2.5M initial checks and plans to reserve additional capital for follow-on investments. LOVC expects to invest in 15-20 companies out of this fund and has already closed on its first three investments.
“We are grateful for the market reception to our thesis here at LOVC,” said Founding Partner Mark Volchek. “Our strategy has begun to prove itself out with the strong performance of our Fund I portfolio, and we are glad that our approach has resonated with our returning limited partners and new investors for this fund. We plan to double down on our existing strategy of taking concentrated lead positions and working closely with exceptional B2B founders,” said Volchek.
This fundraise follows LOVC’s debut $28.5M Fund I and together with its other co-investment vehicles brings the firm’s total assets under management to approximately $100M.
About Las Olas Venture Capital
LOVC is a seed-stage lead investor VC firm. Now investing out of a $50M Fund II, we typically lead seed rounds of $3-5M in B2B software companies and then work closely with the founders to get them to the next level. We believe there is a new generation of B2B companies that are emerging out of places that are largely ignored by traditional venture capital, and that this is a global phenomenon driven by the mass digitization of industries. We aim to be the partner of choice for those founders.
For more information visit www.lasolasvc.com
Note: This is not an offer to sell or a solicitation of an offer to purchase any securities. Please contact Manager for additional information.