San Francisco, CA-based pre-seed fund Bee Partners closed its second fund at over $30m.
Bee Partners II, over 4x the size of Bee Partners I, invests around $400k per company advancing enterprise and frontier-focused technologies. It serves as first investor in over 60% of its companies, most of the founders being first-timers. 25% of the firm’s current portfolio had 0 revenue, 0 customers, and 0 product when it first invested.
The fund, which backs approximately 8 new startups annually, has already invested in 17 companies, including Neighborly, Embroker, StatMuse and BuildingConnected.
Founded in 2009, Bee Partners is led by Garrett Goldberg, Michael Berolzheimer, and Cynthia Maxey.
— Bee Partners (@BeePartners) June 27, 2016